Equinor aiming to lift oil recovery from Roncador in the Campos basin

Equinor has completed its farm-in to 25% of Petrobras’ license over the Roncador oil field in the Campos basin offshore Brazil.

The FPSO P-54 on the Roncador field in the Campos basin offshore Brazil
The FPSO P-54 on the Roncador field in the Campos basin offshore Brazil

Offshore staff

STAVANGER, Norway – Equinor has completed its farm-in to 25% of Petrobras’ license over the Roncador oil field in the Campos basin offshore Brazil.

This follows approvals for the transaction, announced last December.

Equinor has paid Petrobras an adjusted cash consideration of $2 billion, with further potential payments to follow of up to $550 million related to investments in projects to increase recovery from the field.

The deal lifts Equinor’s production offshore Brazil from around 40,000 boe/d to roughly 100,000 boe/d.

At Roncador it plans to introduce its increased oil recovery (IOR) technology, competence and experience from fields offshore Norway: the goal is to increase Roncador’s recovery factor by 5%, and remaining recoverable volumes from 1 Bboe to more than 1.5 Bboe.

06/15/2018

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