Equinor-led Consortium Approves the Development of BM-C-33

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This area has been one of Brazil’s most challenging projects in recent years in part due to the lack of development of the Brazilian gas market, which proved to be an obstacle for monetizing the recoverable reserves of over 1 billion boe.
The consortium, which includes Equinor as an operator, as well as Repsol Sinopec and Petrobras as partners, announced USD 9 billion in investments and a platform scheduled to start production in 2028 with a processing capacity of 16 million m³/d of gas. Furthermore, this will be the first FPSO in Brazil to have a gas treatment module that should eliminate the need for any onshore processing.
BM-C-33 (or C-M-539) contains 3 pre-salt discoveries: Seat (2010), Gávea (2011), and Pão de Açúcar (2012), all made by Repsol Sinopec as the previous operator. The last extension well was drilled in 2016. Since then, Equinor took on the operatorship, and discussions had been ongoing on how to make this project commercially viable.

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