Equinor, Exxon Mobil invest heavily in Brazilian mega field

The two oil giants contribute to a USD 8bn investment in the Bacalhau prospect, which may hold a couple billion barrels of oil.

Photo: Equinor

Norwegian oil firm Equinor has, as operator, joined with US supermajor Exxon Mobil and Brazilian firms Petrogal Brasil and Présal Petróleo SA (PPSA) on an investment of USD 8bn in Brazil.

The funds will be used to develop the first phase of enormous field Bacalhau lying in Brazilian pre-salt area Santos, Equinor confirms in a statement Tuesday morning.

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