A Barrel Fulll Archive

November 22, 2016 Petróleo Brasileiro S.A. – Petrobras reports that the sale operation of the company’s stake in the exploration block BM-S-8 to Statoil Brasil Óleo e Gás LTDA, announced on July 29, 2016, was closed today. The deal was settled upon payment, made today by Statoil, of USD 1.25 billion, representing 50% of the total operation value, after compliance with all previous conditions set forth in the agreement, as the approval of the National Petroleum, Natural Gas and Biofuels Agency (ANP) and the Administrative Council for Economic Protection (CADE). The remaining amount will be paid through installments contingent upon subsequent events, such as the signing of the Production Individualization Agreement (unitization). The operation, carried out through a bidding process, forms an important part of Petrobras’ 2015-2016 Divestment Plan.  Block BM-S-8 is located in the Santos Basin. Its operation will be led by Statoil with a 66% stake, in partnership with Petrogal Brasil S.A.

 6/4/2021 Equinor awards Subsea Integration Alliance an contract on its Bacalhau field development located 185 kilometres from the coast of the state of São Paulo, Brazil. The contract scope brings together field development planning, project delivery and total life cycle solutions under an extensive technology and services portfolio. The project work scope covers the engineering, procurement, construction, and installation (EPCI) of the subsea production systems (SPS) and subsea pipelines (SURF). The development will include 19 trees as well as associated subsea equipment including subsea wellheads, subsea controls and connection systems, and a full completion workover riser. The SURF scope comprises 140 kilometres of rigid risers and flowlines, and 40 kilometres of umbilicals in water depths of approximately 2050 metres. The Subsea Integration Alliance team established during the initial front-end engineering design phase, awarded in January 2020, will now transition into the

05 Feb 2020 MODEC, a leading provider of floating solutions for the global offshore oil and gas industry, has awarded Aibel a Letter of Intent (LOI) in connection with MODEC’s supply of a new-built FPSO to Equinor for the Bacalhau field in Brazil. The Letter of Intent covers a FEED phase for management and basic engineering services with option for an EPC contract including detail engineering, bulk procurement and construction of approx. 20,000 tons topside modules for the giant FPSO (Floating Production Storage and Offloading) vessel. The complete FPSO, to be delivered by MODEC, will be one of the world’s largest FPSOs, and the largest FPSO ever delivered to Brazil with a production capacity of up to 220,000 barrels of crude oil per day. The FPSO vessel will be deployed at the Bacalhau field (formerly Carcará) located in the giant pre-salt region of the Santos Basin approx. 185 kilometres off the coast of the state of São Paolo. “This is an important recognition of our international

Jan. 30, 2020 MODEC, Inc. ("MODEC") is pleased to announce that it has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltda, a subsidiary of Equinor ASA ("Equinor"), to supply a Floating Production Storage and Offloading (FPSO) vessel for the Bacalhau (formerly Carcará) field offshore Brazil. MODEC was awarded a Pre-Front End Engineering Design (Pre-FEED) contract for the FPSO in December 2018 and has now been selected as the turnkey contractor based upon its successful execution of the Pre-FEED contract and its response to the subsequent Invitation to Tender (ITT). This contract is based on a two-step award. The FEED and pre-investment are starting now, with an option for the execution phase under a lump sum turnkey contract setup which includes engineering, procurement, construction and installation for the entire FPSO scopes. Option for the contract is subject to Equinor's planned investment decision for the Bacalhau project late 2020

June 1, 2021 Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau is the first greenfield development by an international operator in the pre-salt area and will create great value for Brazil, Equinor and partners. Good cooperation with partners, Brazilian authorities and suppliers has resulted in an investment decision for the Bacalhau field,” says Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling and Procurement. “Bacalhau is a globally competitive project with a break even below USD 35 in a key energy region. Estimated recoverable reserves for the first phase are more than one billion barrels of oil,” says Nylund. The development plan was approved by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) in March 2021. “Bacalhau is a

February 17, 2022 Lummus Technology announced that Shandong Yulong Petrochemical Co., Ltd., a subsidiary of China’s Nanshan Group, has selected its CDAlky® technology for use in a new 400 KTA alkylation unit. The unit will be part of Shandong Yulong’s 20,000 KTA Refining and Petrochemical Integrated Project , a mega complex in Shandong Province, China. “Our customers count on Lummus to help profitably and safely produce cleaner fuels with lower environmental impact, which is exactly what Lummus’ CDAlky technology achieves,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. “CDAlky produces very high octane, premium alkylate in a proven and economic manner. Lummus has a strategic goal to play a leading role in improving sustainability in our industry, and helping our customers transition to cleaner, more efficient fuels is an important step.” Lummus’ scope for this award includes the technology license, basic engineering, technical services and propri