Norway’s Equinor and U.S. supermajor ExxonMobil have reached the final investment decision to develop the Bacalhau oilfield in Brazil’s prolific pre-salt area with a US$8-billion investment in phase one, the Norwegian major said on Tuesday. Equinor and Exxon hold 40 percent each in the Bacalhau oilfield, with Equinor as operator. The field was discovered by Brazilian state oil giant Petrobras in 2012, while Equinor has been operator since 2016. Under the development plan, Phase 1 will see 19 subsea wells tied back to a floating production,…
