Equinor Brasil Energia Ltda has let a contract to Seadrill Management S PTE Ltd. for Bacalhau field work in the Brazilian Santos basin presalt area contingent on a final investment decision.
The 4-year contract for the West Saturn drillship has a planned start-up of first-quarter 2022 and includes four 1-year options. Six wells are expected to be drilled leading up to a 2024 production start. Phase 1 development capacity is 220,000 b/d.
The overall contract value of $380 million includes mobilization, upgrade, and integrated services.
Bacalhau field was discovered in 2012 and purchased from Petrobras in 2016. It consists of two licenses, BM-S-8 and Norte de Carcará. In water depth of 2,000 m, some 185 km from the coast of Ilhabela, São Paulo, Bacalhau is Equinor’s deepest high-pressure field.
Equinor is operator of Bacalhau with 40% interest. Partners are ExxonMobil (40%), Petrogal Brasil (20%), and Pré-sal Petróleo SA (regulatory agency, non-investor).
