Equinor has been producing oil and gas in Brazil since 2011, when the Peregrino field started operating in the Campos Basin, our largest international offshore operation. Since then, we have produced more than 200 million barrels in one of the most challenging fields in the country due to its extremely heavy oil.
Peregrino is our daily laboratory in the search of production efficiency. In recent years, we have managed to reduce Peregrino's operating costs by 35%, which will help us to maximize value creation in the long term and thus extend the life of the field. This means continuing to generate jobs for longer.
With the project that will replace diesel with natural gas to generate energy in Peregrino, the field will contribute with Equinor's goal to reduce carbon emissions by 2.2 million tons between 2021 and 2040.
The Peregrino field is formed by the fixed wellhead platforms (WHP-A, WHP-B and the recently installed WHP-C) and by the floating production and storage unit (FPSO Peregrino).
Peregrino phase 2, increasing the life of the field.
The Peregrino phase 2 project involves the addition of a third fixed platform to the field, Peregrino C, which has already been installed, and which will be able to drill wells to reach reservoirs inaccessible by platforms A and B. This will increase its productive life by at least 20 years and will add 250-300 million barrels in recoverable reserves, with the first oil expected in the first half of 2022.
Increasing the life of a field is one of the most complex tasks in a project. After all, it is what will prolong its use and consequently minimize the impact of long-term investment.
Pitangola, interconnected with Peregrino phase 2.
With the expectation of interconnected reservoirs, Platform C of Peregrino phase 2, will allow to optimize production in Pitangola.
Roncador, a strategic partnership.
Located in the Campos Basin, Roncador is the second largest producer field outside the pre-salt layer, with approximately 10 billion barrels of oil equivalent. It is currently the fifth largest producing field in the country with a current production of around 170 thousand barrels of oil equivalent per day and around 30 thousand boe per day of associated gas.
Operated by Petrobras, it was considered the biggest discovery offshore in the 1990s. Equinor acquired a 25% stake in the field in 2017, thereby tripling its production equity in Brazil.
The objective in Roncador is to increase the field recovery factor, that is, extract more oil from the reservoirs already known, through the company's expertise in increased oil recovery (IOR) of reservoirs. Equinor is recognized worldwide for its experience in this area, having achieved well above world average recovery factors in several fields.
The expected result is to maximize the value creation and longevity of the Roncador field. The ambition is to increase the recovery factor by 10 percentage points, increasing the recoverable volumes by 1 billion barrels of oil equivalent (boe).