en.Wedoany.com Reported - Norwegian subsea engineering company Ocean Installer has secured its first contract in the Brazilian market through a long-term agreement, providing subsea installation services for Equinor-operated Bacalhau offshore oilfield. The contract is valued between NOK 500 million and 1 billion, with an execution period of four and a half years, and offshore operations are scheduled to commence in 2027.

Under the agreement, Ocean Installer will carry out multiple tasks at the Bacalhau development project located in the Santos Basin, including installing rigid wellhead jumpers connecting flowlines to subsea trees, deploying flying leads, and conducting pre-commissioning activities at several wellheads. This collaboration further strengthens Ocean Installer's market position in the development of ultra-deepwater large-scale production hubs. The Bacalhau oilfield, approximately 185 kilometers from the coast at water depths exceeding 2,000 meters, is one of the most technically challenging development projects in Brazil's pre-salt region.

The project is operated by Equinor, holding a 40% interest, with other shareholders including ExxonMobil (holding 40% shares) and a consortium comprising Galp and Sinopec (holding 20% shares). This is Equinor's largest offshore development project outside Norway and a flagship international asset in its global portfolio. The Bacalhau oilfield achieved first oil in October 2025, with production expected to ramp up to a plateau of approximately 220,000 barrels per day by the end of 2026. Phase I recoverable reserves exceed 1 billion barrels, demonstrating the field's scale and long-term development potential. For Equinor, this project is a core component of its international growth strategy and efforts to expand output from large-scale offshore assets outside Norway.

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