<h1>Bacalhau Oil and Gas Project,São Paulo,Brazil</h1>

<p>Bacalhau is an operating offshore oil and gas project in São Paulo,Brazil,in the Santos basin pre-salt. The project is operated by Equinor Brasil Energia and owned by Equinor Brasil (40%),ExxonMobil Brasil (40%),and Petrogal Brasil (20%). It is a conventional pre-salt development across the BM-S-8 and Norte de Carcará license areas. The project reached final investment decision in 2021 and started production in October 2025 from the Bacalhau FPSO. Equinor describes Bacalhau as its largest international field development. Production ramp-up is underway following first oil.</p>

<h2>Quick Facts</h2>

<table>
<colgroup>
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<col/>
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<tbody>
<tr>
<th>Item</th>
<th>Details</th>
</tr>
<tr>
<td>Project Name</td>
<td>Bacalhau Oil and Gas Project (São Paulo,Brazil)</td>
</tr>
<tr>
<td>Country</td>
<td>Brazil</td>
</tr>
<tr>
<td>Subnational Unit</td>
<td>São Paulo</td>
</tr>
<tr>
<td>Fuel Type</td>
<td>Oil and gas</td>
</tr>
<tr>
<td>Production Type</td>
<td>Conventional</td>
</tr>
<tr>
<td>Status</td>
<td>Operating</td>
</tr>
<tr>
<td>Status Year</td>
<td>2025</td>
</tr>
<tr>
<td>Operator</td>
<td>Equinor Brasil Energia</td>
</tr>
<tr>
<td>Owner(s)</td>
<td>ExxonMobil Brasil [40%]; Petrogal Brasil SA [20%]; Equinor Brasil [40%]</td>
</tr>
<tr>
<td>Parent Company</td>
<td>Equinor ASA [40.0%]; Exxon Mobil Corp [40.0%]; Galp Energia SGPS SA [14.0%]; China Petroleum &amp; Chemical Corp [6.0%]</td>
</tr>
<tr>
<td>Discovery Year</td>
<td>2012</td>
</tr>
<tr>
<td>Final Investment Decision Year</td>
<td>2021</td>
</tr>
<tr>
<td>Production Start Year</td>
<td>2025</td>
</tr>
<tr>
<td>Onshore/Offshore</td>
<td>Offshore</td>
</tr>
<tr>
<td>Basin</td>
<td>Santos</td>
</tr>
<tr>
<td>Block(s)</td>
<td>BM-S-8; Norte de Carcará</td>
</tr>
</tbody>
</table>

<h2>Location and Basin</h2>

<p>Bacalhau is located offshore Brazil in the Santos basin,in the pre-salt region offshore São Paulo,in ultra-deep water exceeding 2,000 metres. The development lies across two licenses: BM-S-8 and Norte de Carcará. The Santos basin is Brazil’s leading offshore pre-salt producing province. Brazilian regulator material describes Bacalhau and Bacalhau Norte as a shared accumulation discovered in 2012 through the 4-BRSA-971B-SPS well in BM-S-8.</p>

<h2>Ownership and Operatorship</h2>

<p>Bacalhau is operated by Equinor Brasil Energia. The ownership structure is Equinor Brasil with 40%,ExxonMobil Brasil with 40%,and Petrogal Brasil SA with 20%. Parent-company interests are Equinor ASA 40.0%,Exxon Mobil Corp 40.0%,Galp Energia SGPS SA 14.0%,and China Petroleum &amp; Chemical Corp 6.0% through Petrogal Brasil’s ownership structure. Equinor became operator after acquiring Petrobras’s interest in BM-S-8. The consortium combines a European national oil company-linked operator,a major U.S. international oil company,and the Petrogal Brasil partnership (Galp and Sinopec).</p>

<h2>Development History</h2>

<table>
<colgroup>
<col/>
<col/>
<col/>
</colgroup>
<tbody>
<tr>
<th>Milestone</th>
<th>Year / Date</th>
<th>Details</th>
</tr>
<tr>
<td>Discovery</td>
<td>2012</td>
<td>Shared accumulation discovered in March 2012 through the 4-BRSA-971B-SPS well in BM-S-8,according to Brazilian regulator material.</td>
</tr>
<tr>
<td>Final Investment Decision</td>
<td>2021</td>
<td>Equinor announced FID for Bacalhau Phase 1 on 1 June 2021.</td>
</tr>
<tr>
<td>Production Start</td>
<td>2025</td>
<td>First oil from Bacalhau FPSO on 15 October 2025.</td>
</tr>
<tr>
<td>Operating Status</td>
<td>2025</td>
<td>Project entered operating status and ramp-up after first oil.</td>
</tr>
</tbody>
</table>

<p>Bacalhau was discovered in 2012. Equinor announced the final investment decision for Phase 1 on 1 June 2021,describing it as the company’s largest international development. MODEC,the FPSO contractor,confirmed first oil on 15 October 2025.</p>

<h2>Infrastructure and Facilities</h2>

<p>Bacalhau is developed using the Bacalhau FPSO,one of the largest FPSO units in Brazil. The vessel measures 370 metres in length and 64 metres in width,with a production capacity of 220,000 barrels of oil per day. MODEC identifies it as the first new-built FPSO with DNV Abate notation. The FPSO uses a combined cycle gas turbine system,described by Equinor as the first in Brazil,intended to reduce carbon emissions. Galp reports a carbon intensity of approximately 9 kg CO₂ per barrel (subject to actual performance). Phase 1 includes a subsea production system with 19 subsea wells (producers and injectors) tied back to the FPSO. Subsea7 and OneSubsea have been contracted for subsea scopes.</p>

<h2>Production and Reserves</h2>

<p>Bacalhau started production on 15 October 2025. The FPSO has a nameplate capacity of 220,000 barrels of oil per day. Galp states that recoverable reserves are expected to exceed 1 billion barrels. Equinor describes the oil as high-quality light oil with minimal contaminants. The project is in ramp-up; actual output during this period can be materially below capacity as wells and systems are commissioned. Exported crude is handled by shuttle tanker.</p>

<h2>Recent Developments</h2>

<p>First oil from Bacalhau was announced by Equinor and MODEC in October 2025. The FPSO arrived in the Santos basin in February 2025. Subsea contract awards continued in 2025,reinforcing the ramp-up and expansion context. Reuters reported in 2026 that Brazil is Equinor’s top investment destination outside Norway and that Bacalhau had begun production the previous year.</p>

<h2>Related Topics</h2>

<ul>
<li>Brazil Santos basin pre-salt projects</li>
<li>Equinor Brasil Energia offshore operations</li>
<li>FPSO Bacalhau</li>
<li>BM-S-8 block</li>
<li>Norte de Carcará license</li>
<li>Ultra-deepwater oil production</li>
<li>Subsea tieback systems</li>
<li>Combined cycle gas turbines on FPSOs</li>
<li>Brazil offshore production sharing</li>
<li>Pre-salt reservoir development</li>
</ul>

<h2>Sources</h2>

<ul>
<li><a href="https://www.gem.wiki/Bacalhau_Oil_and_Gas_Project_%28S%C3%A3o_Paulo%2C_Brazil%29">Global Energy Monitor: Bacalhau Oil and Gas Project (São Paulo,Brazil)</a></li>
<li><a href="https://www.equinor.com/energy/bacalhau">Equinor: Bacalhau</a></li>
<li><a href="https://www.equinor.com/news/archive/20210601-final-investment-decision-bacalhau-phase1-brazil">Equinor: Final investment decision for Bacalhau Phase 1 in Brazil</a></li>
<li><a href="https://www.equinor.com/news/20251016-bacalhau-production-started">Equinor: Production started from Bacalhau</a></li>
<li><a href="https://www.modec.com/project/detail/bacalhau.html">MODEC: FPSO Bacalhau project</a></li>
<li><a href="https://www.modec.com/news/2025/20251016_pr_Bacalhau.html">MODEC: FPSO Bacalhau first oil milestone</a></li>
<li><a href="https://www.galp.com/corp/en/investors/publications-and-announcements/investor-announcements/investor-announcement/id/1636/bacalhau-fpso-reaches-first-oil">Galp: Bacalhau FPSO reaches first oil</a></li>
<li><a href="https://www.gov.br/anp/pt-br/assuntos/exploracao-e-producao-de-oleo-e-gas/desenvolvimento-e-producao/pd/sumario-executivo-bacalhau.pdf">ANP: Bacalhau and Bacalhau Norte executive summary</a></li>
<li><a href="https://www.reuters.com/business/energy/equinor-starts-drilling-brazils-raia-eyes-new-santos-basin-exploration-2027-2026-03-24/">Reuters: Equinor Brazil portfolio context</a></li>
<li><a href="https://www.offshore-energy.biz/subsea7-and-onesubsea-pick-up-work-on-equinors-new-chapter-of-brazilian-oil-field-story/">Offshore Energy: Bacalhau subsea and FPSO development context</a></li>
</ul>

IEPTC reference profile for Bacalhau Oil and Gas Project,São Paulo in Brazil,covering asset type,location,development status,and upstream industry context.

Bacalhau Oil and Gas Project,São Paulo,Brazil

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Bacalhau Oil and Gas Project,São Paulo,Brazil

Bacalhau Oil and Gas Project,São Paulo,Brazil

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