Equinor Starts $9B Six-Well Drilling Campaign at Brazil’s Raia Gas Project
Equinor started drilling six wells at its $9 billion Raia gas project 200 km offshore Brazil’s Campos Basin with the Valaris DS-17 drillship, targeting first production in 2028. Raia’s 1 billion boe reserves aim to supply 16 million m³/day—about 15% of Brazil’s gas demand—via an FPSO and 200 km pipeline.
1. Drilling Campaign Kickoff
Equinor began drilling on March 24 with the Valaris DS-17 drillship, planning six wells in the Raia area located around 200 km offshore in the Campos Basin at water depths of about 2,900 m.
2. Partners, Stakes and Timeline
Equinor holds a 35% interest alongside Repsol Sinopec Brasil (35%) and Petrobras (30%), with partners targeting first production of gas and condensate in 2028 via a subsea tie-back to an FPSO.
3. Reserves and Output Potential
Raia hosts over 1 billion barrels of oil equivalent in recoverable gas and condensate, with projected exports of 16 million m³/day—roughly 15% of Brazil’s gas demand—transported through a 200 km pipeline to Cabiúnas.
4. Investment Scale and Emissions Efficiency
The $9 billion Raia development is Equinor’s largest international investment to date, and its FPSO is engineered for an average CO2 intensity of around 6 kg per barrel of oil equivalent, well below the 17 kg industry average.