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Share Name Share Symbol Market Type
Petroleo Brasileiro S.A. Petrobras BOV:PETR3 Bovespa Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.41 -1.31% 30.90 30.90 31.00 31.90 30.73 31.59 10,631,700 21:59:20

Equinor, Petrobras Start Production at Increased Oil Recovery Project Offshore Brazil

20/04/2022 2:10pm

Dow Jones News


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By Dominic Chopping

 

Norwegian energy major Equinor ASA said Wednesday that it has started production alongside Petroleo Brasileiro SA from the first two wells at the Roncador field increased oil recovery project offshore Brazil.

Start-up is almost five months ahead of schedule and at half of the planned cost, it said.

The wells add a combined 20,000 barrels of oil equivalent a day to Roncador, bringing daily production to approximately 150,000 barrels and reducing the carbon intensity of the field, Equinor said.

The increased oil recovery project will see 18 wells drilled in total, which are expected to provide additional recoverable resources of 160 million barrels.

Petrobras is the operator of the Roncador field with 75% equity, and Equinor has a 25% stake.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

April 20, 2022 08:55 ET (12:55 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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