Petrobras to add 14 FPSOs offshore Brazil in next four years

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Petróleo Brasileiro S.A. (Petrobras), Brazil’s state-owned multinational oil producer, plans to add 14 floating production, storage and offloading (FPSO) vessels offshore Brazil in the next four years, according to its Strategic Plan 2022-2026.

The plan listed 15 FPSOs altogether. The first, the Guanabara MV31, was placed at the Mero field in the pre-salt of the Santos Basin earlier this month, with a capacity to produce up to 180,000 barrels of oil per day.

Five FPSOs are scheduled to achieve first oil in 2023, adding approximately 630,000 bpd of production capacity.

Three FPSOs are scheduled for first production in 2024, with total approximate production capacity of 505,000 bpd.

In 2025, three FPSOs are slated to start producing, with peak production capacities totaling 540,000 bpd.

Three more FPSOs are expected to come onstream in 2026, adding 570,000 bpd to Petrobras’ output.

If all goes as planned, the 14 FPSOs added in the next four years will add over 2.2 million bpd.

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The state oil player said that a strong Petrobras generates more value for Brazilian society. Its projections indicate that for the period the strategic plan covers (2022-2026), total taxes and government take will amount to US$65-70 billion, and total estimated dividends for the government will amount to US$20-25 billion.

Rystad Energy forecasted in 2019 that Petrobras will become the world’s largest oil producer among publicly listed companies by 2030. This company will play a significant role in Brazil’s oil production outlook over the next decade.

According to Rystad Energy, Brazil is projected to move from around 3 million bpd in 2022 to nearly 5 million bpd in the early 2030s, flying way above the projected second placeholder Guyana, which will be producing between 1.2 million and 2 million bpd in the same period.


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