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February 26, 2021updated 26 Nov 2021 12:15pm

Petrobras signs FPSO LOI with SBM Offshore for Búzios field offshore Brazil

Petrobras has signed a letter of intent (LoI) with SBM Offshore for delivery of a floating production storage and offloading platform (FPSO) for the Búzios field in the Santos Basin pre-salt.

By Umesh Ellichipuram

Petrobras has signed a letter of intent (LoI) with SBM Offshore for delivery of a floating production storage and offloading platform (FPSO) for the Búzios field in the Santos Basin pre-salt.

Brought on stream in April 2018, the Buzios field is said to be Latin America’s second-largest of its kind.

The 26.25-year lease and operate contract allows Petrobras to hire the FPSO Almirante Tamandaré for deployment at the Búzios field, which is located in the Santos Basin approximately 180km offshore Rio de Janeiro in Brazil.

SBM Offshore will be responsible for the engineering, procurement, construction, installation and operation of the FPSO, which is expected to be one of the largest in the world.

With a daily processing capacity of 225,000 barrels of oil and 12 million cubic metres of gas, the FPSO will have a water injection capacity of 250,000 barrels per day, as well as a minimum storage capacity of 1.4 million barrels of crude oil.

SBM Offshore plans to deliver the FPSO in the second half of 2024.

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SBM Offshore CEO Bruno Chabas said: “SBM Offshore is proud to announce that Petrobras has awarded the company the LOI for the 6th FPSO development in the world-class Búzios field in Brazil.

“This award for one of the largest production units in the world demonstrates the trust placed in our ability to reliably deliver large-scale FPSOs and the agreement again confirms the significant value we bring to our clients with our industry-leading Fast4Ward programme.”

Earlier this year, Reuters reported that Petrobras received three bids to build the FPSO units for the Buzios field, following a tender round launched last July.

Recently, Reuters reported that SBM was the only bidder for a contract to build the Mero 4 platform in the Santos Basin.

With a capacity to produce 180,000 barrels of oil a day, the Mero 4 platform is planned to be commissioned in 2025.

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