Saudi Arabia - joining the dots

A series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy

AIM - Assets In Market

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Iran negotiations - is the end nigh?

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Yemen: The Islamic Chessboard?

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Acquisition Criteria

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Valuation Series

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Showing posts with label Equinor. Show all posts
Showing posts with label Equinor. Show all posts

Friday 16 July 2021

SSE and Equinor developing plans for hydrogen storage in West Yorkshire

 SSE Thermal and Equinor are developing plans for one of the world’s largest hydrogen storage facilities at their existing Aldbrough site on the East Yorkshire coast. The facility could be storing low-carbon hydrogen as early as 2028.

The existing Aldbrough Gas Storage facility, which was commissioned in 2011, is co-owned by SSE Thermal and Equinor, and consists of nine underground salt caverns, each roughly the size of St. Paul’s Cathedral. Upgrading the site to store hydrogen would involve converting the existing caverns or creating new purpose-built caverns to store the low-carbon fuel.

With an initial expected capacity of at least 320GWh, Aldbrough Hydrogen Storage would be significantly larger than any hydrogen storage facility in operation in the world today. The Aldbrough site is ideally located to store the low-carbon hydrogen set to be produced and used in the Humber region.

Hydrogen storage will be vital in creating a large-scale hydrogen economy in the UK and balancing the overall energy system by providing back up where large proportions of energy are produced from renewable power. As increasing amounts of hydrogen are produced both from offshore wind power, known as ‘green hydrogen’, and from natural gas with carbon capture and storage, known as ‘blue hydrogen’, facilities such as Aldbrough will provide storage for low-carbon energy.

Equinor has announced its intention to develop 1.8GW of ‘blue hydrogen’ production in the region starting with its 0.6GW H2H Saltend project which will supply low-carbon hydrogen to local industry and power from the mid-2020s. This will be followed by a 1.2GW production facility to supply the Keadby Hydrogen Power Station, proposed by SSE Thermal and Equinor as the world’s first 100% hydrogen-fired power station, before the end of the decade.

SSE Thermal and Equinor’s partnership in the Humber marks the UK’s first end-to-end hydrogen proposal, connecting production, storage and demand projects in the region. While the Aldbrough facility would initially store the hydrogen produced for the Keadby Hydrogen Power Station, the benefit of this large-scale hydrogen storage extends well beyond power generation. The facility would enable growing hydrogen ambitions across the region, unlocking the potential for green hydrogen, and supplying an expanding offtaker market including heat, industry and transport from the late 2020s onwards.

Aldbrough Hydrogen Storage, and the partners’ other hydrogen projects in the region, are in the development stage and final investment decisions will depend on the progress of the necessary business models and associated infrastructure.

The Aldbrough Hydrogen Storage project is the latest being developed in a long-standing partnership between SSE Thermal and Equinor in the UK, which includes the joint venture to build the Dogger Bank Offshore Wind Farm, the largest offshore wind farm in the world.


Stephen Wheeler, Managing Director of SSE Thermal, said: “We’re delighted to be announcing our plans for the development of this world-leading hydrogen storage facility with our partners in Equinor, which would play a vital role in creating a low-carbon hydrogen economy in the Humber and beyond. By delivering large-scale hydrogen storage capacity, we can utilise hydrogen to decarbonise vital power generation, as well as heavy industry, heat, transport, and other hard-to-reach sectors, safeguarding and creating crucial jobs and investment across the region.”


Grete Tveit, Senior Vice President for Low Carbon Solutions at Equinor, said: “Hydrogen will be crucial for the UK to reach its net zero ambition. That’s why we are pleased to be working together with SSE Thermal on developing plans to store low-carbon hydrogen at the Aldbrough site, bringing us and our partners in Zero Carbon Humber closer to our joint ambition to support the Humber region to become the UK’s first net zero carbon cluster. Projects such as these are critical for efforts to reaching the goals of the Paris Agreement and contributing to the UK’s goals to become a world leader in low carbon.”

Tuesday 23 March 2021

HyWind Scotland takes the crown for highest UK wind farm load factor

 


For its third consecutive year, Hywind Scotland – the world’s first floating offshore wind farm – reaches the highest average capacity factor for any wind farm in the UK.

With an average capacity factor of 57.1% in the twelve month period to March 2020, the floating offshore wind farm set a new record in the UK.

During its first two years of operation, the wind farm achieved an average capacity factor of 54%. That compares to an offshore wind average in the U.K. of around 40%. The capacity factor is the ratio of actual energy output over a given period of time, to the maximum possible output.  A higher capacity factor means lower intermittency and higher value.

With this top of the charts performance, the Equinor-operated wind farm has truly proven the potential for floating offshore wind, paving the way for the UK’s announcement of 1GW of floating offshore wind to be developed in the UK by 2030.

Equinor is the global leader in floating offshore wind. With Hywind Tampen onstream in 2022 Equinor will operate a third of floating offshore wind production worldwide.

“In Equinor we are constantly striving to improve the performance of our assets, whilst ensuring we extract learnings to support future projects. The turbines on Hywind Scotland are covered in sensors, to extract as much data from the wind farm as possible. We’re monitoring everything from ballast, mooring, structural strains and the more regular wind turbine sensor data, looking at how best to optimise this innovative technology as we prepare to develop at scale. We’re sharing parts of this data across industry to help the advancement of the technology globally and more widely than just our own operations,” says Sonja Chirico Indrebø, plant manager for Hywind Scotland and Dudgeon, the bottom-fixed wind farm off the coast of North Norfolk, who also can show to strong results.

Sebastian Bringsværd, head of floating wind development at Equinor, and Sonja Chirico Indrebø, plant manager for Hywind Scotland and Dudgeon.

As the first project of its kind, the Hywind Scotland wind farm has provided valuable data and results that will help drive the whole industry forward.

“It’s great to see the results Hywind Scotland and the floating technology keeps delivering. The potential for floating offshore wind is huge. With access to deeper waters and therefore higher and more consistent wind speeds, floating offshore is not only an efficient way to generate electricity from wind, this exciting technology can also provide jobs and value creation for the countries supportive of floating. In the UK alone, we are talking at least 17000 jobs and £33bn GVA by 2050. We believe Scotland has the potential to build a globally competitive offshore wind industry, including a real chance to enhance the development of floating offshore wind,” says Sebastian Bringsværd, head of floating wind development at Equinor.

As a global major in offshore wind with decades of experience in developing offshore energy - oil and gas, Equinor is uniquely placed to drive forward global deployment of floating offshore wind.

In 2009, Equinor installed the first ever floating offshore wind turbine, and Hywind Scotland followed in 2017 as the world’s first commercial floating offshore wind farm. It is now developing an even bigger project, Hywind Tampen, situated off the coast of Norway. This project, currently in construction, is on schedule to become the world’s largest floating wind farm as well as the first project ever to use wind energy to decarbonise offshore oil and gas production.

A recent report from ORE Catapult showed potential pathways for the growth and cost reduction for floating offshore wind.

Scale is key to cost reduction and Equinor has already seen a reduction in CAPEX per megawatt of 70% between its initial demonstrator, with a capacity of 2.3MW and Hywind Scotland, with a capacity of 30MW. The company expects a further 40% drop between Hywind Scotland and the 88MW Hywind Tampen.

“The global energy industry has been pleasantly surprised by the rapid decline in the cost to deploy fixed bottom offshore wind. We’ve been working on floating offshore wind for more than ten years and we see that significant cost reductions can be achieved through scale and experience, paving the way for floating to become fully commercialised”, says Bringsværd.

Original article link: https://www.equinor.com/en/news/20210323-hywind-scotland-uk-best-performing-offshore-wind-farm.html

Wednesday 17 March 2021

Equinor: all three UK low-carbon projects receive government funding to mature concepts


All three of Equinor’s projects to deliver deep cuts in emissions from industries and support clean growth on the UK’s east coast have received public funding from UK authorities. With a combination of private and public funding, Equinor and its partners will now progress these projects in order to create the world’s first net zero industrial cluster by 2040.

On 17 March 2021 the UK Government announced the funding awards under the UK’s Industrial Strategy Challenge Fund (ISCF) to three project consortia in which Equinor is directly involved:

  • Zero Carbon Humber (ZCH), a twelve-company partnership to turn the UK’s largest industrial cluster net zero through the step-wise deployment of low carbon hydrogen, carbon capture and negative emissions being delivered at sites across the Humber estuary. The first project is the Equinor-led H2H Saltend low carbon hydrogen facility and a hydrogen and carbon dioxide (CO2) pipeline network across Humber industrial sites developed by National Grid Ventures.
  • Net Zero Teesside (NZT), a five-company partnership to decarbonise the Teesside industrial cluster with carbon capture and build a new gas-fired power station with state-of-the art carbon capture technology.
  • Northern Endurance Partnership (NEP), a six-company partnership (with ENI, National Grid, Shell, Total and operator bp) to develop offshore carbon dioxide transport and storage infrastructure in the UK North Sea that will serve both ZCH and NZT.

The three successful bids amount to GBP 229 million in private and public funding, with Equinor and its partners contributing more than two-thirds of the total.

“The shared challenge of climate change requires governments, industries and societies to come together. This funding award from the UK authorities shows this working in practice and we are delighted that these three pioneering projects have been successful. Working with our partners and stakeholders, Equinor will continue to apply our capabilities to deliver these projects, so together we can demonstrate the significant value that carbon capture & storage and hydrogen offer to communities and countries in a net zero future,” says Irene Rummelhoff, executive vice president for Marketing, Midstream & Processing in Equinor.

The funding awards from UK Research & Innovation and the funding from Equinor and its partners will be used in each project to move through the detailed engineering and design stages and progress to the point where, subject to the development in parallel of supportive UK policy, a final investment decision (FID) on each can be taken.

“The awards are great news for the UK and for Equinor. The Humber and Teesside make up nearly half of the UK’s industrial emissions so, to reach net zero, there is enormous value in tackling emissions at both clusters together. Rolling out carbon capture use & storage and hydrogen across the UK’s industrial clusters supports the Government’s aims for a green recovery and to level up by safeguarding and creating many high-skilled jobs, and will establish the UK as a world leader in hydrogen and low carbon technologies. As the UK’s leading energy provider, we will continue to work with our partners to progress our projects to final investment decision, engaging locally and nationally to make this happen,” says Grete Tveit, senior vice president for Low Carbon Solutions in Equinor.

In Norway, Equinor and its partners started construction work in January 2021 on Northern Lights, Europe’s first full-scale carbon transportation & storage project, following the Norwegian Parliament’s vote to approve funding in December. Construction is expected to be completed by late 2023 with the first phase operational during 2024.

Original article link: https://www.equinor.com/en/news/20210317-low-carbon-hat-trick-uk.html

Friday 12 February 2021

Partial electrification of Sleipner approved


The Ministry of Petroleum and Energy has approved a revised plan for development and operation (PDO) for partial electrification of the Sleipner field centre. The field centre will be tied to the Utsira High area solution, and Sleipner is expected to cut emissions by more than 150,000 tonnes of CO₂ per year.

“Partial electrification of the Sleipner field centre will contribute to major cuts in emissions from our activities and provide significant assignments for the supplier industry in a demanding time. As the authorities have approved the PDO, we can keep developing the Norwegian continental shelf (NCS) towards the goal of zero greenhouse gas emissions in 2050,” says Arne Sigve Nylund, executive vice president for Technology, Projects and Drilling in Equinor.

In June, Equinor and its partners Vår Energi, LOTOS and KUFPEC submitted a revised plan for development and operation (PDO) to the authorities. The investments are in the size of NOK 850 million. Sleipner is scheduled to be tied in to the Utsira High area solution by the end of 2022.

“Sleipner is an important field on the NCS contributing enormous value to Norwegian society. The partners have focused on being in the forefront of technology development and innovation to carry out for example carbon capture, injection and storage at the field. The decision to partly electrify the field helps the partners in their effort of further developing the field,” says Kjetil Hove, executive vice president for Development and Production Norway in Equinor.

Arne Sigve Nylund, executive vice president for Technology, Projects and Drilling in Equinor, and Kjetil Hove, executive vice president for Development and Production Norway in Equinor.
The Sleipner field centre solution involves laying a power cable from Sleipner to the Gina Krog platform, which will be tied to the power from shore Utsira High area solution.

The Utsira High area solution was originally planned for the four fields: Johan Sverdrup, Edvard Grieg, Ivar Aasen and Gina Krog. The Sleipner field centre and the Gudrun, Gina Krog, Utgard, Gungne and Sigyn tie-in fields will now receive power from shore through the area solution.

In June, Aibel was awarded the EPCIC contract (engineering, procurement, construction, installation and commissioning) for Sleipner modifications. The contract for production and laying of cables was awarded to the NKT cable supplier.

Worth around NOK 400 million, the EPCIC contract will require approximately 170 man-years distributed on two years at Aibel’s offices in Stavanger and at their yard in Haugesund. Purchase of equipment from sub-suppliers is expected to be in the size of NOK 150 million.

Sleipner licence partners: Equinor Energy AS (operator) 59.6%, Vår Energi AS 15.4%, LOTOS Exploration and Production Norge AS 15.0%, KUFPEC Norway AS 10.0%

Wednesday 13 January 2021

Equinor selected for largest-ever US offshore wind award

Equinor has been selected to provide New York State with offshore wind power in one of the largest renewable energy procurements in the U.S. to date.

Under the award, Equinor and incoming strategic partner BP will provide generation capacity of 1,260 megawatts (MW) renewable offshore wind power from Empire Wind 2, and another 1,230 MW of power from Beacon Wind 1 – adding to the existing commitment to provide New York with 816 MW of renewable power from Empire Wind 1 – totaling 3.3 gigawatts (GW) of power to the State. The execution of the procurement award is subject to the successful negotiation of a purchase and sale agreement, which the partnership looks forward to finalizing together with the New York State Energy Research and Development Authority (NYSERDA).

As part of the award by NYSERDA, the companies will partner with the State to transform two venerable New York ports – the South Brooklyn Marine Terminal (SBMT) and the Port of Albany – into large-scale offshore wind working industrial facilities that position New York to become an offshore wind industry hub.

“These projects will deliver homegrown, renewable electricity to New York and play a major role in the State’s ambitions of becoming a global offshore wind hub. The U.S. East Coast is one of the most attractive growth markets for offshore wind in the world. The successful bids for Empire Wind 2 and Beacon Wind 1 represent a game-changer for our offshore wind business in the U.S. and underline Equinor’s commitment to be a leading company in the energy transition. These projects will also create value through economies of scale and support our strategic ambition of becoming a global offshore wind major,” says Anders Opedal, CEO of Equinor.

“Together, Equinor and the State of New York will create a robust offshore wind supply chain capable of manufacturing, assembling, and staging these projects at scale. As Equinor works to expand its renewable energy presence across the United States and the globe, New York’s leadership clearly illustrates the transformative benefits of offshore wind on climate goals and economic activity alike. We are looking forward to developing Empire Wind and Beacon Wind together with local authorities, communities and our incoming partner bp in growing this new industry,” says Siri Espedal Kindem, President of Equinor Wind U.S.

Taken together, these offshore wind projects will help the State’s economic rebound and strengthen disadvantaged communities while helping the State achieve its nation-leading renewable energy goals.


ABOUT SOUTH BROOKLYN MARINE TERMINAL (SBMT)

Equinor will invest in port upgrades to help transform SBMT into a world-class offshore wind staging and assembling facility and become the operations and maintenance (O&M) base both for Equinor and other project developers going forward.

SBMT will be one of the largest dedicated offshore wind port facilities in the United States at approximately 73 acres, with the capacity to accommodate wind turbine generator staging and assembly activities at the scale required by component manufacturers.

ABOUT PORT OF ALBANY

Equinor will combine forces with established wind industry companies Marmen and Welcon at the Port of Albany to help the port become America’s first offshore wind tower and transition piece manufacturing facility, where it will produce components for Equinor’s projects.

The site, located in the State’s Capital Region, stands to become a go-to destination for future projects to source offshore wind towers, transition pieces, and other manufacturing components for many years to come as offshore wind continues to grow along the East Coast.

ABOUT THE ASSETS

Empire Wind is located 15-30 miles southeast of Long Island and spans 80,000 acres, with water depths of between 65 and 131 feet. The lease was acquired in 2017 and is being developed in two phases (Empire Wind 1 and 2) with a total installed capacity of more than 2 GW (816 + 1,260 MW).

Beacon Wind is located more than 60 miles east of Montauk Point and 20 miles south of Nantucket and covers 128,000 acres. The lease was acquired in 2019 and has the potential to be developed with a total capacity of more than 2.4 GW. This first phase will have an installed capacity of 1,230 MW.

In September 2020, Equinor and bp announced that they formed a strategic partnership for offshore wind in the U.S., and that bp will be a 50 percent partner in the Equinor-operated Empire Wind and Beacon Wind assets on the U.S. East coast. The transaction is expected to close in early 2021.

ABOUT EQUINOR

Equinor is developing into a broad energy company, building a material position in renewable energy. Equinor now powers more than one million European homes with renewable offshore wind from four projects in the United Kingdom and Germany. Equinor commissioned the world’s first floating offshore wind farm in 2017 off the coast of Scotland. In the U.S., Equinor holds two lease areas, the Empire Wind lease area located approximately 20 miles south of Long Island, and the Beacon Wind lease area that lies 60 miles off the coast of Long Island.


Original article link: Equinor selected for largest-ever US offshore wind award




Tuesday 12 November 2019

Is Busta a bust?




Exploration well on the Busta prospect on PL782S has been drilled in 127m of water in the Jotun-Balder area of the Norwegian North Sea. It appears to be a marginal discovery with preliminary resource estimates of 6-60mmboe (vs. pre-drill 50-200mmboe).

Two separate gas/condensate and oil-bearing intervals totaling ~25m were encountered -the primary target hitting the reservoir with the secondary target water bearing.

Busta is operated by ConocoPhillips (40%) with AkerBP, Dea and Equinor each with 20%.

The Leiv Eiriksson rig which drilled the well is now scheduled to relocate to the neighbouring block, PL917, to drill the Enniberg/ Hasselbaink prospect.

Sunday 13 October 2019

European gas storage is full



European gas storage is full and Equinor has highlighted three potential catalysts that could provide short term relief for the current super low European gas prices
  1. A delay to Nord Stream 2 due to sanctions
  2. The lack of a transit agreement with Ukraine
  3. A colder than expected winter

The Nord Stream 2 project was expected to come onstream on 1 January 2020. However with ongoing concerns that the EU's reliance on Russian gas continues to grow and Trump considering sanctions on the project, it is likely to be delayed.


Russia's agreement to transit gas through Ukraine also expires in January 2020 and there is current uncertainty on whether a new agreement can be reached between the two countries.


So upside to European gas prices to exist as we head into the winter in north west Europe.

Monday 17 June 2019

Dry well in the Barents near Korpfjell


The 7335/3-1 exploration well on Production Licence 859 has drilled a dry well.

The partners on the licence are: Equinor 65% operator, Lundin 15%, DNO 20%.

The licence lies in the Barents Sea and the 7335/3-1 well is located c.8km southeast of the Korpfjell gas discovery.

Both the primary and secondary exploration targets encountered sandy and poor reservoirs. The well was drilled by the West Hercules drilling rig to 4,268m below the sea surface and water depth was 239m The well has not been permanently plugged and abandoned.

The West Hercules rig will now move to drill a wildcat well 7324/6-1 in PL855 in the Barents Sea.

Monday 8 April 2019

Mediocre week for UK exploration


This week saw a disappointing well result in Rowallan and a mediocre result in Verbier.

Rowallan
The keenly watched wildcat drilled at the Rowallan prospect "was not found to be hydrocarbon-bearing”. The 22/19c-7 well was targeting 143mmbbl in a structural fault and dip-closed trap analogous to Total’s Culzean field 20km away.

The well encountered a 182m section of sandstone and shale after being drilled to a depth of 4,641m .

The Dundonald and Sundrum prospects, which are geologically similar to Rowallan, have previously been identified as potential drilling targets in the block but will now be “re-evaluated in the light of the drilling results”, Serica said.

Serica, with a 15% interest in the block, did not incur any costs for the well as it was fully carried following an earlier farm-out. Eni operates the block with a 32% stake, with remaining partners JX Nippon (25%), Mitsui (20%) and Equinor (8%).


Verbier
Equinor (70%), Jersey Oil & Gas (18%) and CIECO (12%) completed appraisal well 20/05b-14 on the Verbier discovery last week. The well did not encounter Upper Jurassic sands as anticipated, and the contingent resources have been revised towards the lower end of initial resource estimates to 25mmboe.

Further upside potential exists in the area at deeper horizons and an additional prospect at Cortina. This will continue to be matured. At 25mmboe, Verbier is viewed to be commercial and development planning will now commence as part of a wider area development plan, which could include the Buchan Area.


Friday 21 December 2018

Valuera nears TDs at Inanli-1

Valeura has reached 4,145m on the Inanli-1 well (TD 5,000m, c.800m deeper than Yamalik-1).

It has encountered over-pressured gas with a c.40% net-to-gross, similar to that of Yamalik-1, with gas flows - all pointing to promising results. In addition, the well has encountered more naturally fractured rock than encountered in Yamalik-1 with increased gas levels recorded at the fractured intervals.

Drilling is continuing to 5,000m with an extensive set of logging and well tests planned. Operations are expected to be completed in January with fracking and flow testing expected to commence around the end of Q1/19. Inanli-1 is the final well to be funded by Equinor.

Devepinar-1 appraisal well is the next scheduled to be drilled following completion of Inanli-1.

Sunday 18 November 2018

PGNiG expands footprint in Norway


On 18th October PGNiG announced that it had agreed to acquire Equinor's interest in the Tommeliten Alpha gas and condensate field in the Norwegian North Sea. This continues PGNiG's strategy of diversifying its gas supply away from Russia.

PGNiG has always had an interest in Norwegian gas seeing it as as logical and accessible source of gas for Poland. As the long term Russian gas supply contracts come to expiry, PGNiG is making bold moves to secure new sources of gas and LNG. See PGNiG shuns Russian gas.

The operator of the discovery is ConocoPhilips (28.26%), and current partners are Total (20.23%), Eni Norge (9.13%) and Equinor (42.38%) which will sell its entire working interest to PGNiG. The agreed price for Equinor's stake was USD220 million at 1 January 2018 effective date.

The Tommeliten Alpha discovery is located in the vicinity of large, existing fields, most notably the giant Ekofisk field. According to current plans, production is expected to commence in 2024, and the development concept assumes a subsea tie-back to the existing infrastructure on Ekofisk.

Tommeliten Alpha is a gas and condensate field with estimated recoverable resources of 52 mmboe (net to PGNiG's 42.38%). PGNiG believes in an upside potential in the field reserves as well as significant exploration upside in the area.

The field was originally planned to start production in 2019, but development plans were shelved by operator ConocoPhillips in 2016 due to low oil prices.

#PGNiG #NorthSea #TommelitenAlpha # Equinor #Conoco

Thursday 7 June 2018

Majors pick up acreage in Brazil


Equinor press release:

Equinor, ExxonMobil and Petrogal Brasil presented the winning bid (75.49% profit oil) for the Uirapuru production sharing contract in the Santos basin. Petrobras exercised its right to enter the consortium and will be the operator with 30% equity.
The final equity distribution is Petrobras (30% operator), Equinor (28%), ExxonMobil (28%) and Petrogal Brasil (14%). The pre-determined signature bonus to be paid by the bidding consortium is BRL 2,65 billion (approximately USD 682** million). The Uirapuru exploration block is located in the Santos basin, north of the BM-S-8 (Carcará discovery) and North Carcará blocks, both operated by Equinor.

A consortium comprising Equinor (25%), Petrobras (45%, operator) and BP (30%) were the high bidders (16.43% profit oil) for the Dois Irmãos producing sharing contract in the Campos basin. The pre-determined signature bonus to be paid by the bidding consortium is BRL 400 million (approximately USD 103**million). The Dois Irmãos block sits adjacent to an area where Equinor with partners were awarded four high potential blocks in the 15th licensing round in March.

“We are very pleased with the opportunities secured in the 4th PSA round,” says Tim Dodson, Equinor’s executive vice president for exploration.

“The prolific basins offshore Brazil represents world class exploration acreage. The results from this and previous bid rounds have added highly prospective acreage to Equinor’s exploration portfolio, allowing us to maintain a significant activity and pursue high value prospects in Brazil in the years ahead,” says Dodson.

“The outcome of this round further strengthens our position in Brazil, considered as a core area for Equinor. We are looking forward to working with our partners, the Brazilian authorities and Pré-sal Petróleo S.A. on the development of these new blocks. We have been increasing our investments in the country in the last two years and our expectation is that this will represent more jobs, taxes and, in the future, royalties that will benefit local communities,” says Anders Opedal, Brazil’s country manager.

This adds to Equinor’s existing portfolio in the Brazilian pre-salt area, which includes BM-S-8 and Carcará North, both in Santos basin, and the BM-C-33 in the Campos basin, containing the Pão de Açúcar discovery.