Topic: Exploration

BM-C-33 development project approved in Brazil

Region: Latin America
Content Types: Report
Date: Mar, 2021

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Equinor, together with license partners Repsol Sinopec Brasil and Petrobras, have approved the development concept for BM-C-33, a gas/condensate field located in the Campos Basin pre-salt in Brazil.

“BM-C-33 is a key project in our portfolio and concept select is an important milestone in our effort to mature the project. It is important to further optimise and improve the project business case to make it more robust for the future market,” said Geir Tungesvik, Senior Vice President for Projects at Equinor.

The well streams will be sent to a floating production, storage and offloading unit (FPSO) located at the field, which will process both gas and oil/condensate to sales specifications and then exported. Crude will be offloaded by shuttle tankers and shipped to the international market after ship-to-ship transfer. A new-build hull has been selected to accommodate for 30 years lifetime of the field.

The gas export solution is based on an integrated offshore gas pipeline from the FPSO to a new dedicated onshore gas receiving facility inside the Petrobras TECAB site at Cabiúnas, before connecting to the domestic gas transmission network.

"BM-C-33 holds substantial volumes of gas. A completion of the ongoing liberalisation of the natural gas market in Brazil in line with the current plan, is key for the further development of the project. BM-C-33 is an asset that can generate value for the society, both through the creation of direct and indirect jobs, ripple effects, and through a gas supply that can induce industrial growth, as has happened in other countries,” commented Veronica Coelho, Equinor’s Country Manager in Brazil.

Gas export capacity is planned for 16mn cu/m per day with average exports expected to be 14mn cu/m per day, which represents a significant volume based on current Brazilian gas demand. Daily oil processing capacity is of 20,000 cu/m.

The concept select is a conclusion of a technical and commercial assessment of various developing concepts and landfalls. The chosen concept provides the most robust solution to develop the BM- C-33 project and gas value chain.

Details on project timeline towards next decision gates and start of production are still to be concluded.