The drilling is expected to start in 2026, Equinor said, adding that six wells were planned, with oil and gas production scheduled to begin in 2028.
The Raia field is operated by Equinor, which has a 35% stake in the project, while Repsol Sinopec Brasil (REP.MC), opens new tab, (600028.SS), opens new tab holds 35% and Brazilian state-run oil firm Petrobras (PETR4.SA), opens new tab owns the remaining 30%.
Equinor also awarded SLB, Baker Hughes and Halliburton contracts for drilling and well services for the project worth around $109 million in total.
Once in operation, Raia is expected to meet up to 15% of total gas demand in Brazil, according to Equinor.
