Page 27: of Maritime Reporter Magazine (November 2019)

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Equinor has earmarked around 15 to 20% of its total annual investment for the development of new energy solution until 2030.

Much of these resources are pegged for innovative projects, such as deepwater offshore wind energy farms, placed on barges.

geted at clean energy projects. Present- ly, Equinor has major O&G projects in the Campos and Santos basins, such as the Carcará development, which is the ? rst large pre-salt project being devel- oped by an IOC in Brazil. The Carcará reservoir is believed to contain at least 2 billion boe of recoverable hydrocar- bons. Beyond these investments in tra- ditional O&G plays, Equinor has a large solar energy farm in the state of Ceará which began production in 2018 and is operated by its partner Scatec Solar.

This project alone is already producing 162MW of solar energy. Equinor also has a strategic partnership with Petro- bras to evaluate offshore wind energy production. “Brazil has a great potential for solar and wind energy generation and we are carefully evaluating business opportunities in the country. We have signed a memorandum with Petrobras to begin to evaluate potential business op- portunities in these areas. It´s early and we are talking to various interested par- ties to better understand the best form of operation,” said Margareth. 27

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