SBM Offshore Inks FPSO Sepetiba Deals with Petrobras
- Business & Finance
Amsterdam-based oil and gas specialist SBM Offshore has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 22.5-year lease and operation of the floating production storage and offloading unit (FPSO) Sepetiba.
These contracts follow the signing of the binding letter of intent (LOI) unveiled in June 2019.
As informed, FPSO Sepetiba, formerly known as Mero 2, will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 kilometers offshore Rio de Janeiro.
SBM Offshore said it is progressing with the design and construction using its Fast4Ward program as it incorporates the company’s newbuild, multi-purpose hull combined with several standardized topsides modules.
Delivery of the FPSO is expected in 2022.
The Libra block, where the Mero field is located, is under a production sharing agreement to a consortium comprised of Petrobras, as the operator, with 40 percent, Shell with 20 percent, Total with 20 percent, CNODC with 10 percent and CNOOC Limited with 10 percent interest. The consortium also has the participation of the state-owned company Pré-Sal Petróleo SA (PPSA) as manager of the production sharing contract.