Equinor Begins Drilling at Raia Gas Project in Brazil, Largest Investment Abroad

Equinor has begun drilling at the Raia project, one of Brazil's largest natural gas developments, marking a major milestone for the company's largest current project. The Raia project, operated by Equinor, targets first production in 2028 and aims to export 16 million cubic meters of natural gas per day, accounting for 15% of Brazilian gas demand. The project is Equinor's largest international investment to date, with a total estimated cost of around $9 billion, and deepens its position in Brazil's pre-salt basin and broader gas market.