Name of the Project
Bacalhau Phase 1.

Location
The Bacalhau field is situated across two licences, BM-S-8 and Norte de Carcará, 185 km from the coast of the municipality of Ilhabela/SP, in the state of São Paulo, in Brazil, in water depths of 2 050 m.

Project Owner/s
Equinor (operator) and ExxonMobil, Petrogal Brasil (Galp) and Pré-sal Petróleo SA (PPSA).

Project Description
Bacalhau is a high-quality carbonate reservoir containing light oil with minimal contaminants.

The development will comprise 19 subsea wells tied back to a floating production, storage and offloading unit (FPSO) at the field. This will be one of the biggest FPSOs in Brazil, with a production capacity of 220 000 bbl/d and two-million barrels in storage capacity.

The stabilised oil will be offloaded to shuttle tankers and the gas from Phase 1 will be re-injected in the reservoir.

Efforts have been made to reduce emissions from the production phase, including implementing a combined-cycle gas turbine system to increase the energy efficiency of the power station. This gives an efficient electrical power production and flexible heat supply.

The lifetime average carbon dioxide intensity is expected to be less than 9 kg/bl produced, significantly lower than the global average of 17 kg/bl. Work will continue through the lifetime of the field to reduce emissions and increase energy efficiency.

Potential Job Creation
Not stated.

Capital Expenditure
The project is estimated at $8-billion.

Planned Start/End Date
First oil is planned for 2024; however, owing to the Covid-19 pandemic and related uncertainties, project plans may be adjusted in response to health and safety restrictions.

Latest Developments
The development plan was approved by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels in March 2021.

Key Contracts, Suppliers and Consultants
Subsea Integration Alliance, comprising Subsea7 and OneSubsea for (subsea, umbilical, risers and flowlines); MODEC Inc (FPSO); Seadrill Management (West Saturn drillship); Baker Hughes do Brasil, Halliburton Produtos, and Schlumberger Serviços de Petróleo (drilling and well service); and Triunfo Logistica (onshore supply base).

Contact Details for Project Information
Equinor, tel +47 51 99 0000.
ExxonMobil, tel  +972 940 6007.
Galp, tel +351 21 724 08 66 or email investor.relations@galp.com.
PPSA, tel +55 21 3513 7701.