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Released October 20, 2025 | SUGAR LAND
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Brazil could soon surpass 4 million barrels per day (BBL/d) of oil production. Bacalhau is Equinor's (Stavanger, Norway) largest international offshore field.
On October 15, the Bacalhau oil field in Brazil's Santos Basin began producing oil, adding 220,000 BBL/d to the nation's output.
The development is owned by a consortium composed of Equinor (40%, operator), ExxonMobil Brasil (40%), Petrogal Brasil (joint venture between Galp and Sinopec) (20%), and Pré-Sal Petróleo S.A. (PPSA). The latter is a state-owned company in Brazil and manages production sharing agreements (PSA).
Oil will be extracted through a floating production storage and offloading (FPSO) unit connected to 19 wells in Phase 1. Companies expect to recover more than 1 billion barrels from the asset reserves.
"Brazil is a core area for us, and Bacalhau will be a major contributor to Equinor's goal of generating more than 5 billion dollars of free cash flow by 2030 from our international portfolio," mentioned Philippe Mathieu, executive vice president for exploration and production international for Equinor. "Bacalhau will also deliver positive ripple effects and long-term benefits to Brazil´s economy, creating approximately 50,000 jobs over its 30-year lifetime."
With Bacalhau's volumes increasing, Brazil could soon pass the 4 million BBL/d production mark. In August, the latest available data, the country had volumes of 3.9 million BBL/d of oil, a 16.6% increase from the same month last year.
Pre-salt fields made up 79.4% of Brazil's August production, totaling 3.1 million BBL/d. Meanwhile, Bacalhau's development stands out as the first pre-salt field developed by an international operator.
This growth follows the startup of new production facilities like Petrobras' (Rio de Janeiro, Brazil) Maria Quiteria FPSO, Almirante Tamandare FPSO and Marechal Duque de Caxias FPSO, among others. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Plant Database can click here for more information on the FPSOs.
The company deployed two more FPSOs this year. The latest, P-78, arrived in late September and will begin production soon. Subscribers to the GMI Project Database can click here to read the related project report.
Brazil has experienced exponential growth in its oil production, evolving from a marginal producer a decade ago to the largest producer in South America. Meanwhile, plans to continue expanding capacity keep moving forward with Petrobras expecting the deployment of several more platforms in the next years.
Industrial Info is tracking 144 oil-production projects in Brazil, worth US$30.5 billion, that are deemed to have a high probability (81%-99%) of meeting their construction schedule. Subscribers can click here for a list of projects.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
On October 15, the Bacalhau oil field in Brazil's Santos Basin began producing oil, adding 220,000 BBL/d to the nation's output.
The development is owned by a consortium composed of Equinor (40%, operator), ExxonMobil Brasil (40%), Petrogal Brasil (joint venture between Galp and Sinopec) (20%), and Pré-Sal Petróleo S.A. (PPSA). The latter is a state-owned company in Brazil and manages production sharing agreements (PSA).
Oil will be extracted through a floating production storage and offloading (FPSO) unit connected to 19 wells in Phase 1. Companies expect to recover more than 1 billion barrels from the asset reserves.
"Brazil is a core area for us, and Bacalhau will be a major contributor to Equinor's goal of generating more than 5 billion dollars of free cash flow by 2030 from our international portfolio," mentioned Philippe Mathieu, executive vice president for exploration and production international for Equinor. "Bacalhau will also deliver positive ripple effects and long-term benefits to Brazil´s economy, creating approximately 50,000 jobs over its 30-year lifetime."
With Bacalhau's volumes increasing, Brazil could soon pass the 4 million BBL/d production mark. In August, the latest available data, the country had volumes of 3.9 million BBL/d of oil, a 16.6% increase from the same month last year.
Pre-salt fields made up 79.4% of Brazil's August production, totaling 3.1 million BBL/d. Meanwhile, Bacalhau's development stands out as the first pre-salt field developed by an international operator.
This growth follows the startup of new production facilities like Petrobras' (Rio de Janeiro, Brazil) Maria Quiteria FPSO, Almirante Tamandare FPSO and Marechal Duque de Caxias FPSO, among others. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Plant Database can click here for more information on the FPSOs.
The company deployed two more FPSOs this year. The latest, P-78, arrived in late September and will begin production soon. Subscribers to the GMI Project Database can click here to read the related project report.
Brazil has experienced exponential growth in its oil production, evolving from a marginal producer a decade ago to the largest producer in South America. Meanwhile, plans to continue expanding capacity keep moving forward with Petrobras expecting the deployment of several more platforms in the next years.
Industrial Info is tracking 144 oil-production projects in Brazil, worth US$30.5 billion, that are deemed to have a high probability (81%-99%) of meeting their construction schedule. Subscribers can click here for a list of projects.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
