Libra FPSO Starts Charter Contract in Santos Basin
- Business & Finance
The floating production storage and offloading (FPSO) unit Pioneiro de Libra has achieved first oil and started a 12-year charter contract with a group of international oil companies on the Libra oil field where it will perform early well tests.
The Libra FPSO, which is chartered by Petrobras, Total, Shell, CNPC and CNOOC Limited, is the first unit to produce oil on the giant Libra block, which covers more than 1,500 square kilometers in the Santos Basin.
Owned and operated by Teekay Offshore Partners (TOO) and Odebrecht Oil and Gas (OOG) through a 50/50 joint venture, the FPSO unit was converted from one of the partnership’s shuttle tankers at Sembcorp Marine’s Jurong shipyard in Singapore.
The vessel is designed to operate at water depths of up to 2,400 meters, with a production capacity of 50,000 barrels of oil per day and daily compression capacity of four million cubic meters of gas.
“Today marks another significant milestone for Teekay Offshore and its growing presence in the Brazilian market,” Ingvild Sæther, President and CEO of Teekay Offshore Group, said.
“This successful Libra FPSO conversion project demonstrates that we can confidently deliver highly complex FPSO solutions for Brazil’s massive pre-salt play and is expected to provide significant future cash flow growth to the partnership,” Sæther added.