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New project by Equinor and its partners will generate more than one billion barrels of oil equivalent in Brazil

Inspenet, May 8, 2023

Equinor and its partners Repsol Sinopec Brasil and Petrobras have announced the final investment decision in the BM-C-33 field, a project located in the Campos basin in Brazil. The investment is estimated at around 9 billion dollars.

This project comprises three different pre-salt discoveries: Pão de Açúcar, Gávea and Seat, which contain recoverable natural gas and oil/condensate reserves in excess of one billion barrels of oil equivalent.

The concept chosen for BM-C-33 is based on a FPSO (Floating Production Storage and Offloading Unit) capable of processing gas and oil/condensate and specifying them for sale without the need for additional onshore processing.

The production capacity of the FPSO is 16 million cubic meters of gas per day, and average exports are expected to be 14 million cubic meters of gas per day. The commissioning of the project is scheduled for the year 2028.

The final investment decision for BM-C-33 is an important milestone for the partners and for Equinor. According to Geir Tungesvik, executive vice president of Projects, Drilling and Acquisitions, “together with partners and suppliers we have developed an important project that will provide Brazil with energy to meet its growing energy demand and generate value for owners and society, contributing to industrial development local. Brazil is one of Equinor’s core areas and the investment in BM-C-33 emphasizes the strategic importance of our Brazilian portfolio.”

BM-C-33 is one of the main projects in the country to bring new domestic gas supplies, being a key contributor to the further development of the Brazilian gas market.

The gas exported from the project could represent 15% of Brazil’s total gas demand at the start of operations. Its development will also contribute to energy security and economic development, allowing many new job opportunities at the local level, according to Verónica Coelho, Country Manager of Equinor in Brazil.

1778 Equinor FPSO shutterstock interna

Technological innovation and sustainability! Equinor and Partners Implement BM-C-33 Combined Cycle Gas Turbine Technology in Field

The BM-C-33 will be developed through an innovative concept in Brazil, using a FPSO (Floating Production Storage and Offloading unit) that will be able to process the produced gas.

BM-C-33 will be Equinor’s second FPSO in Brazil to use combined cycle gas turbines, significantly reducing carbon emissions during operations. The technology will also be applied at Bacalhau, in the Santos Basin, and combines a gas turbine with a steam turbine to harness excess heat that would otherwise be lost. By implementing this technology, the average CO 2 intensity of BM-C-33 during its useful life will be less than 6 kilos per barrel of oil equivalent.

BM-C-33 will be the first project in Brazil to treat gas offshore and connect to the national grid without further onshore processing. Sales gas is expected to be exported via a 200-kilometre offshore pipeline from the FPSO to Cabiúnas, in the city of Macaé in Rio de Janeiro state. The liquids are discharged by tanker trucks.

Oil and gas production from BM-C-33 will be a major contributor to Equinor’s 2030 and 2050 climate goals, and will support the company’s ambition to be a net-zero emissions company by 2050. In addition, Equinor and its partners will work together with local suppliers and contractors to ensure that the project has a positive impact on the economy and employment in Brazil. The investment in BM-C-33 is expected to generate around 6,500 jobs during the construction phase and up to 1,500 jobs during the operation of the FPSO.

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