Oilfield services provider Wood has secured an extension with Equinor to deliver maintenance solutions across the Peregrino wellhead platforms (WHP) and FPSO unit, located off the coast of Rio de Janeiro, Brazil.
This is the third one-year extension awarded to the team, with the contract initially secured in 2015 as a four-year commitment with four additional one-year options to extend, Wood said on Tuesday.
Wood’s core team, consisting of approximately 140 people, will continue to provide maintenance solutions to optimise the assets. As Wood executes Equinor’s upcoming major Technical Condition Upgrade Project (TCUP) on the Peregrino assets, an additional 500 people will be mobilised to the team.
The Peregrino oil field is Equinor’s largest international operation outside Norway. The field is located in licences BM-C-7 and BM-C-47, approximately 85 km offshore Brazil, in the Campos Basin, in water depths of 100m. The second phase is expected to be developed at a cost of $3 billion and will start production in 2022.
Phase Two involves the addition of a third fixed wellhead platform to the field, extending its main productive life and adding 250-300 million barrels in recoverable reserves.
Paul Leonard , Wood’s President for Operations in the Americas said: “This contract extension solidifies our position in the region, demonstrating Wood’s proven capabilities in delivering energy solutions to Brazil.
“We are well-positioned to extend our work with Equinor in the years to come as they continue to invest heavily in Brazil, with new developments. We are also committed to align with them in their pursuit of alternative energy sources, such as solar and wind, as we navigate the energy transition towards net-zero carbon emissions together.”