Equinor Signs Contract with Seadrill for the Development of Bacalhau

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The 4-year, USD 380 million contracts is, however, contingent on a final investment decision to be made by the project’s consortium (Equinor – 40%, ExxonMobil – 40%, and Galp – 20%). Should everything go according to plan, the drillship West Saturn (currently charted by ExxonMobil) will drill at least six wells between 2022 and 2024, when production is set to start.

Last month, ANP approved the first phase of the Development Plan for Bacalhau and Bacalhau Norte, which aims for 19 wells in the south portion of the reservoir and the FPSO (to be delivered by MODEC, Inc.) with a production capacity of 220,000 barrels per day.

Related: Equinor Announces New Contracts for Well Drilling Related Services on Bacalhau (https://lnkd.in/dCsRTJa)

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