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Company News

Equinor awards contracts worth $455 mln at Brazil's Bacalhau oilfield

OSLO, Nov 10 (Reuters) - Norway’s Equinor awarded oil services firms Baker Hughes, Halliburton and Schlumberger $455 million worth of drilling and well service contracts at its Bacalhau project off Brazil, the company said on Tuesday.

“Brazil is a core area for Equinor, and Bacalhau is an important asset in the Brazilian pre-salt Santos area. Together with our partners, we are currently maturing the project towards a final investment decision (FID) which is planned in 2021,” the company said in a statement.

Bacalhau, discovered in 2012 by Petrobras about 185 km (115 miles) off the coast of Sao Paulo state, is expected to start production in 2024, with an initial production capacity of 220,000 barrels of oil per day, it said.

Equinor operates the discovery, formerly called Carcara, and has a 40% stake, while its partners ExxonMobil and Petrogal, the Brazilian unit of Portugal’s Galp, have 40% and 20% stakes respectively. (Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)

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