Equinor lets contracts for Raia drilling offshore Brazil

Equinor Energy AS has let various contracts for work on the Raia project in the Campos basin presalt offshore Brazil.

Equinor Energy do Brasil Ltda., an Equinor subsidiary, awarded a multi-year contract to Valaris Ltd. for drillship Valaris DS-17. The estimated total contract value is about $498 million.  

The contract includes a 672-day drilling program that is expected to begin in first-half 2026. The objective is to drill six wells with the drillship leading up to production starting in 2028. The rig will be on standby for an estimated 180 days between the end of the rig’s current program for Bacalhau field and the beginning of the Raia operating period. During the standby period, the rig may be available for work both inside and outside Brazil, which could lead to incremental revenue, the service provider said. The contract also includes two options.

Raia is in the BM-C-33 concession, about 200 km from shore, in water depths up to 2,900 m. It contains natural gas and oil-condensate recoverable reserves above 1 billion boe (OGJ Online, Dec. 4, 2023).  

Separately, Equinor has awarded SLB, Baker Hughes, and Halliburton agreements for drilling and well services for the Raia project worth around $109 million in total.

SLB will be the main service supplier, with complementary services provided by Baker Hughes and Halliburton.

Equinor is operator of BM-C-33 with 35% interest. Partners are Repsol Sinopec Brasil (35%) and Petrobras (30%).