Saturday, August 13, 2022

Builder of Guyana FPSOs secures 22.5 year contract for Brazil floater

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SBM Offshore said Tuesday it has signed a Letter of Intent with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease and operate contract for FPSO Alexandre de Gusmão. The unit will be deployed at the Mero field in the Santos Basin offshore Brazil, approximately 160 kilometers from Arraial do Cabo, Rio de Janeiro state, in Brazil.

The Libra block, where the Mero field is located, is under a Production Sharing Agreement to a Consortium comprised of Petrobras with 40 percent, Shell Brasil with 20 percent, Total Energies with 20 percent, CNODC and CNOOC with 10 percent each and the state-owned company Pré-Sal Petróleo SA as manager of the Production Sharing Contract.

SBM Offshore said it will design and construct the FPSO Alexandre de Gusmão using its industry leading Fast4Ward® program as it incorporates the Company’s new build Multi-Purpose Floater (MPF) hull combined with several standardized topsides modules. SBM Offshore’s fifth MPF hull has been allocated to this project. Completion of the FPSO is expected in 2024.

The FPSO will be designed to produce 180,000 barrels of oil per day and treat 12 million standard cubic meters of gas per day. Furthermore, the unit will have a water injection capacity of 250,000 barrels per day and a minimum storage capacity of 1.4 million barrels of crude oil. The unit will be spread moored in approximately 1,900 meters water depth.

“The signing of this Letter of Intent is the second major project award this year by our key client Petrobras,” said Bruno Chabas, CEO of SBM Offshore. “Our industry leading Fast4Ward® program continues to address clients’ needs to develop large-scale and complex FPSOs providing cost efficient and low GHG intensity solutions.”

The Dutch company is the builder and operator of the Liza Destiny FPSO producing oil for ExxonMobil offshore Guyana. SBM Offshore is also set to deliver additional FPSOs to Guyana, being constructed under its Fast4Ward® program.

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