Equinor has issued a final investment decision (FID) for the Pão de Açúcar project offshore Brazil. The development of the initiative will require US$9bn in investment and will feature a new floating, production, storage, and offloading (FPSO) unit.
With first commercial production expected in 2028, the FPSO, similarly to Bacalhau’s, will feature combined cycle gas turbines, reducing carbon emissions throughout its life cycle.
Block BM-C-33, which involves the Pão de Açúcar, Gávea, and Seat discoveries in the pre-salt area of the Campos Basin, holds recoverable reserves with more than one billion barrels of oil equivalent (boe).
Equinor is the operator of the Pão de Açúcar field with a stake of 35%. Repsol Sinopec Brasil (35%) and Petrobras (30%) are partners in the project.
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