The Bacalhau field is a significant ultra-deepwater oil development located in the Santos Basin, approximately 185 kilometers off the coast of São Paulo, Brazil.
Discovered by
Petrobras in 2012, the field was originally known as Carcará before being renamed. In 2016, the Norwegian energy company
Equinor assumed operatorship of the asset, marking the first time a major pre-salt development in Brazil was led by an international operator.
Following a Final Investment Decision (FID) in 2021, Phase 1 of the project achieved first oil on October 15, 2025. Production is facilitated by the
FPSO Bacalhau, one of the largest floating production vessels in the world, measuring 370 meters in length and featuring a production capacity of 220,000 barrels of oil per day. The vessel is equipped with innovative combined-cycle gas turbine technology designed to reduce carbon intensity to approximately 9 kg of CO2 per barrel. With estimated recoverable reserves exceeding 1 billion barrels of oil equivalent, the field is expected to remain in operation for approximately 30 years, contributing significantly to Equinors global production targets through 2053.
As of 2026, the field is operated by a consortium comprising Equinor (40 ), ExxonMobil Brasil (40 ), and Petrogal Brasil (20 ), a joint venture between Galp and Sinopec, with the Brazilian government agency PPSA managing the production-sharing contract.