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Saipem, DSME JV to construct FPSO for Petrobras

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Oilfield Technology,

A joint venture of Saipem and Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) has been awarded a contract by Petrobras for the construction of the FPSO P-79 as part of the development of the Búzios field offshore Brazil.

The FPSO P-79 project is worth overall approximately US$2.3 billion. Saipem’s portion is approximately US$1.3 billion.

The FPSO vessel will allow initial separation of gas from the oil extracted in the deep offshore reservoir and will have a production capacity of 180 000 bpd and 7.2 million m3/d of gas, with a storage capacity of 2 million barrels of oil.

Saipem and DSME will execute the entire FPSO project, which encompasses the engineering, procurement, fabrication and integration of the topsides of the FPSO units and the installation of the mooring systems, as well as the hookup, the commissioning and the start-up.

The Búzios field, the world’s largest deepwater oilfield, is located in the region of the pre-salt Santos Basin, approximately 200 km off the coast of Rio de Janeiro at water depths ranging from 1600 m to 2100 m. Saipem is already present in the Búzios field where it is executing a rigid subsea system installation contract.

Currently, there are four units in operation in Búzios, which account for more than 20% of Petrobras' total production. The fifth, sixth and seventh platforms planned for the field (FPSOs Almirante Barroso, Almirante Tamandaré and P-78) are under construction and the ninth unit (P-80) is in the contracting process.

Maurizio Coratella, Chief Operating Officer of Saipem's E&C Onshore Division, commented: “This project represents a key step forward in our portfolio diversification strategy. It is also a further demonstration of trust of our clients in our consolidated capability to manage complex, technologically advanced projects in compliance with the highest safety and environmental standards.”

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