Uncategorized

Equinor charters flotel from GranEnergia

9/26/18

Contract between the two companies will focus on the service to phase II of Peregrino

 

Equinor and GranEnergia will sign next week a six-month charter contract, with option of renewal for another four, for a flotel to support the development of phase II of Peregrino, in the Campos Basin. The unit will be operational by the end of 2018.

GranEnergia has not yet defined the unit that will be allocated to the project. The company is studying three different alternatives: UMS Olympia, currently operating for Petrobras in Mexilhão, in the Santos Basin; Venus, under contract with Total in Angola; or seek a third unit in the market.

According to Miguel Gradin, president of GranEnergia, the group is analyzing the best strategy and will try to keep the two contracts, either through renewal or new bidding.

Phase II of Pilgrim will require total investments of $ 2.4 billion and is scheduled to come on stream in the last quarter of 2020. The field now produces about 70,000 barrels of oil per day.

Equinor has been investing heavily in the standardization and simplification of processes in the development of the field in order to reduce costs. At the beginning of the implementation phase, the project’s break even was US $ 70 / barrel, but more recent indicators already see the feasibility of the system even at a barrel price below US $ 40 / barrel.

Source: Brazil Energy

Categories: Uncategorized

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