January 30, 2020 / 8:23 AM / 19 days ago

UPDATE 1-Equinor and partners award first Brazil oilfield contracts

* Eyes 2023-2024 start-up, 30 years of output

* First phase could see 220,000 barrels oil per day

* Field renamed Bacalhau from Carcara previously (Adds quote, background, detail)

OSLO, Jan 30 (Reuters) - Norway’s Equinor and partners ExxonMobil and Petrogal Brasil have awarded engineering contracts for a planned Brazilian oilfield development, the Norwegian operator of the project said on Thursday.

A design contract for a floating oil production and storage vessel (FPSO) was awarded to Japan’s Modec Inc, while seabed systems (SURF) will be planned by the Subsea Integration Alliance, formed by Subsea 7 and OneSubsea.

A final investment decision for the Bacalhau field, formerly known as Carcara, will be made this year, Equinor said.

Production from the field’s first phase could start in 2023 or 2024 with oil output of up to 220,000 barrels per day, and lasting for 30 years, the company said.

“Awarding these contracts is an important milestone in developing the Bacalhau area,” said Anders Opedal, Equinor’s head of technology, projects and drilling.

If the project gets formal go-ahead, Subsea 7’s part of the order will likely generate revenue of more than $750 million, the company said in a separate statement.

Operator Equinor has a 40% stake in the development, as does ExxonMobil, while Petrogal Brasil has a 20% stake.

Bacalhau is the traditional name for dried, salted cod which Norway for centuries has sold to Portuguese-speaking countries. (Reporting by Terje Solsvik; editing by David Evans and Jason Neely)

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