Equinor: drilling contract with Valaris in Brazil

(CercleFinance.com) - Equinor has signed a drilling contract with Valaris for the Raia project in Brazil.
Raia is one of the largest gas projects currently under development in Brazil.

Drilling is scheduled to start in 2026. The objective is to drill six wells until production begins in 2028. The total value of the contract is estimated at $498 million.

Raia is located in the pre-salt region of the Campos Basin, around 200 km from the coast, at water depths of up to 2,900 m. It contains natural gas and oil/condensate. It contains recoverable reserves of natural gas and oil/condensate of over one billion barrels of oil equivalent (boe).

'Our goal is to continue to bring energy to people and progress to society, always looking for better technologies, better partnerships and better solutions,' said Veronica Coelho, Equinor's Director in Brazil.

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