BRAZIL — Equinor, on behalf of its partners Repsol Sinopec Brasil and Petrobras, has awarded a significant drilling contract to Valaris for the Raia project in Brazil.
The contract, valued at $498 million, includes drilling operations, mobilisation, modifications, and integrated services.
The drilling activities are scheduled to commence in 2026, with the objective of drilling six wells leading up to production starting in 2028.
The project will utilise the ultra-deepwater drillship DS-17, which is capable of operating in water depths exceeding 3,600 metres.
Raia is considered one of Brazil’s most significant gas projects under development.
Located in the pre-salt region of the Campos basin, approximately 200 kilometres offshore, the field lies in water depths up to 2,900 metres.
The project boasts recoverable reserves of over one billion barrels of oil equivalent in natural gas and oil/condensate.
Mette H. Ottøy, Equinor’s chief procurement officer, expressed enthusiasm about the contract, stating: “We are pleased to secure a drillship for the important Raia project.
“We will be working together to achieve safe and efficient operations, and we look forward to strengthening our cooperation with Valaris.”
In addition to the drilling contract, Equinor has awarded agreements worth approximately $109 million to SLB, Baker Hughes, and Halliburton for drilling and well services.
SLB will serve as the main service supplier, with complementary services provided by Baker Hughes and Halliburton.
The Raia project is expected to play a crucial role in developing Brazil’s gas market, potentially supplying up to 15 per cent of the country’s total gas demand when operational.
It is also anticipated to create up to 50,000 direct and indirect jobs locally throughout its lifetime.
Veronica Coelho, Equinor’s country manager in Brazil, highlighted the project’s significance, saying: “Raia is part of the next generation of projects in the Equinor portfolio. It will have significant value for the owners while it contributes locally with significant ripple effects.”
The ownership structure of the Raia project consists of Equinor as the operator with a 35 per cent stake, Repsol Sinopec Brasil holding 35 per cent, and Petrobras with 30 per cent.
