LatAmOil: Equinor aims to boost output more than five-fold in Brazil by 2033

Norway’s Equinor is looking to boost its output in Brazil significantly over the next 10 years and will also focus on green energy initiatives, particularly offshore wind power, in that country, according to Lars Jetlund Hansen, the company’s vice president for subsurface development.

Speaking at an energy event in Rio de Janeiro, Jetlund Hansen said Equinor aimed to raise Brazilian production its output to over 500,000 barrels of oil equivalent per day by 2033. This would represent a more than five-fold rise on the present level of nearly 90,000 boepd, he noted.

He expressed confidence in the company’s ability to expand its Brazilian operations in the areas of both oil and gas, as well as renewable energy, stating: “We have great momentum to grow more in Brazil in both oil and gas and renewables.”

According to official data, Equinor is the second-largest oil producer in Brazil, trailing behind the national oil company (NOC) Petrobras.