Equinor and partners to invest $9 B in new gas field off Brazil
(Reuters) - Equinor and its partners have decided to invest about $9 B to develop the BM-C-33 gas and condensate discovery off Brazil Norwegian company said on Monday.
The field which is estimated to hold more than one billion barrels of recoverable oil equivalent is expected to start production in 2028.
"Gas exported from the project could represent 15% of the total Brazilian gas demand at start-up," Equinor said in a statement.
"Its development will also contribute to the energy security and economic development, enabling a lot of new job opportunities locally," it added.
Gas from the offshore field will be directly injected into the national gas grid via a 200 kilometers pipeline landing at the city of Macae in the state of Rio de Janeiro.
Oil liquids are planned to be offloaded by shuttle tankers.
Equinor has a 35% stake in the project, while Repsol Sinopec
Related News
Related News
- Credit Agricole says it will not fund two major LNG projects
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Japan's JERA suspends output at 4 gas-fired power plants to secure LNG stocks
- TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision
- Saudi Aramco, UAE's ADNOC in talks to invest in U.S. LNG projects
- Technip Energies awarded a major LNG contract for the North Field South Project by QatarEnergy
- Shell publishes Energy Transition Strategy 2024
- QatarEnergy to charter 19 new LNG vessels expanding fleet further
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Mabanaft announces successful acquisition of WESTFA Energy GmbH
Comments