Equinor Begins Drilling at Brazil’s Massive Raia Gas Project
Equinor has kicked off drilling at the Raia project, one of the largest natural gas developments advancing offshore Brazil, as the Norwegian energy major pushes deeper into the country’s pre-salt basin and broader gas market.
The campaign began on March 24 with the Valaris DS-17 drillship and will cover six wells in the Raia area, roughly 200 kilometers offshore in the Campos Basin at water depths of about 2,900 meters. The start of drilling marks a major execution milestone for a project Equinor has described as its largest currently under development.
Raia is operated by Equinor, which holds 35%, alongside Repsol Sinopec Brasil with 35% and Petrobras with 30%. The partners are targeting first production in 2028.
The scale of the project is substantial. Raia holds more than 1 billion barrels of oil equivalent in recoverable gas and condensate reserves. Once online, it is expected to export as much as 16 million cubic meters of natural gas per day, a volume that could account for about 15% of Brazilian gas demand by 2028. That would make it a strategically important supply source for Brazil at a time when the country is seeking to strengthen domestic gas availability and industrial competitiveness.
The development will rely on a floating production, storage and offloading vessel (FPSO) tied back to subsea wells. Gas from the field will be sent through a 200-kilometer pipeline to Cabiúnas in Macaé, Rio de Janeiro state, where it can enter Brazil’s onshore gas system. The FPSO is also expected to handle roughly 126,000 barrels per day of oil and condensate.
For Equinor, Raia is more than another offshore project. It is the company’s largest international investment to date, with a total estimated cost of around $9 billion, and deepens its position in one of its core overseas markets. Brazil already plays a central role in Equinor’s portfolio through oil, gas, and increasingly power-related assets. Raia now adds a large-scale gas pillar with long-life production and expected cash flow visibility.
The company is also emphasizing emissions performance. Equinor said the Raia FPSO is expected to rank among the most carbon-efficient globally, with average CO2 intensity of around 6 kilograms per barrel of oil equivalent, well below the current industry average cited by the company of 17 kilograms per barrel. That message is likely aimed at investors increasingly focused on lower-carbon upstream supply rather than just production growth.
Raia also builds on operational experience in Brazilian deepwater. Equinor pointed to the partners’ previous work on the Bacalhau field, where the DS-17 drillship also participated. That continuity may help reduce execution risk as the industry continues to grapple with rising offshore project complexity, tight supplier capacity, and pressure to bring large gas resources to market more efficiently.
Beyond output and emissions, the project carries broader economic weight. Equinor estimates Raia could support up to 50,000 direct and indirect jobs over its 30-year life cycle, underscoring the project’s industrial significance in Brazil as offshore developments remain a major source of employment, investment, and infrastructure buildout.
In practical terms, the start of drilling signals that Raia has moved decisively from planning into heavy execution. With wells, FPSO integration, and commissioning now advancing in parallel, Equinor and its partners are positioning the project as a cornerstone of Brazil’s future gas supply.
By Charles Kennedy for Oilprice.com
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