Equinor and Sinochem have received permit from Ibama for Phase 2 of the Peregrino field.

July 8, 2019

Norwegian oil company Equinor and China’s Sinochem have received prior approval from IBAMA for Phase 2 of the expansion of the Peregrino oilfield production system in the Campos basin, Rio de Janeiro state, the agency said on Friday.

The project provides for the installation of a third fixed platform for drilling new wells, with expansion of the production of the field by some 270 million barrels in recoverable reserves, Ibama added.

It is also planned to install a section of gas pipeline that will provide gas for the project to generate energy, reducing diesel consumption and atmospheric emissions, according to IBAMA.

Equinor is the operator of the Peregrino field, with 60%, while Sinochem holds 40%. The development of phase 2 of the field has an estimated investment of U$3.5 billion, with estimated start of production by the end of 2020, according to information from the Norwegian company website.

The asset is the largest field operated by Equinor outside Europe, with a production capacity of 100,000 barrels per day (bpd), according to the company.

Source: Portos e Navios Magazine

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