Equinor is set to sanction development of the giant Pao de Acucar gas condensate field on Block BM-C-33 in Brazil’s Campos basin, according to an executive with the Norwegian major.

“It will be soon,” Ana Serrano Onate, Equinor’s senior vice president for petroleum technology, told Upstream when quizzed about the timing of a long-awaited final investment decision.

The Pao de Acucar field is a field of natural gas and condensates that Equinor has been poised to develop for the past two years, but it has been keen to see Brazil conclude a promised deregulatory reform of domestic gas markets first.