Equinor hikes investments in Brazil

Norwegian oil major Equinor eyes big potential in Brazil and is planning to invest over USD 15 billion in the country up to 2030. 

Photo: PR-foto: Statoil

The Norwegian oil major is gearing up to expand its stake in the Brazilian energy market. It is already extracting more than 90,000 bpd from currently operational oil fields in the country and now expects to invest more than USD 15 billion within Brazil forward to 2030.

"Brazil stands out globally as one of the most promising offshore oil and gas basins with a significant remaining resource base. In addition, the country has a huge potential within renewable energy," Equinor writes in press release.

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