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Stock impact report

Equinor Starts Drilling for $9B Gas Development offshore Brazil [Yahoo! Finance]

Equinor ASA (EQNR) 
Last equinor asa earnings: 2/6 12:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
Development drilling has started at Raia in the Campos Basin offshore Brazil, a project that could account for 15 percent of demand in the South American country when the field starts production 2028, Equinor ASA said Tuesday. "The project is Equinor's largest international investment to date, totaling around $9 billion", the Norwegian majority state-owned energy major said in an online statement. Raia is designed to produce up to 16 million cubic meters (565.03 million cubic feet) of gas per day, Equinor said, noting Raia is "one of Brazil's most significant natural gas projects". The operator estimates total recoverable reserves to exceed 1 billion barrels of oil equivalent. "While drilling takes place, integration and commissioning activities on the FPSO [floating production, storage and offloading vessel] are progressing well", said Geir Tungesvik, Equinor executive vice president for projects, drilling and procurement. Tokyo-based MODEC Inc is building FPSO Raia. The dri Show less Read more
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