BRAZIL'S OIL INVESTMENT $8 BLN
ENERDATA - 2 Jun 2021 - Equinor (40%, operator), ExxonMobil (40%), Petrogal Brasil (Galp Energia, 20%) and Présal Petróleo SA (government company, PSA manager) have taken the Final Investment Decision (FID) to develop Phase One of the Bacalhau field in the Brazilian pre-salt. The project, which will have a break even price below US$35/bbl, requires an investment of US$8bn. It will consist of 19 subsea wells tied back to a floating production, storage and offloading unit (FPSO) with a production capacity of 220,000 bbl/d and 2 mbl/d of storage capacity. First oil production is planned in 2024.