Equinor Looks To Brazil For Future Growth

With success in recent bidding rounds in Brazil, the region has become a vital area for Equinor. The Norwegian energy company is producing about 90,000 bbl/d from its current field; however, according to Tim Dodson, executive vice president of exploration for Equinor, new resources will allow that figure to rise to between 300,000 and 500,000 bbl/d by 2030. Reaching that target will require an investment of $15 billion over the next 12 years.

“I think the portfolio we have in Brazil now is the most exciting moment in my career as head of exploration with Equinor,” Dodson said.

Current production comes from the Peregrino Field, which Equinor operates. The second phase of that development is underway and is expected to come online in 2020. Equinor also has a 25% share in the giant Petrobras-operated Roncador Field along with presalt discoveries at Carcara and Pao de Acucar plus exploration acreage.