SBM Offshore signs FPSO Sepetiba contracts with Petrobras

Published by Nicholas Woodroof, Editor
Oilfield Technology, Thursday, 12 December 2019 10:30

SBM Offshore has signed contracts with Petrobras for the 22.5 years lease and operation of FPSO Sepetiba (formerly known as Mero 2). These contracts follow the signing of the binding Letter of Intent (LOI) as announced on 11 June 2019.

FPSO Sepetiba will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 km offshore Rio de Janeiro. SBM Offshore is progressing with the design and construction using its industry leading Fast4Ward® programme as it incorporates the company’s new build, multi-purpose hull combined with several standardised topsides modules. Delivery of the FPSO is expected in 2022.

The Libra block, where the Mero field is located, is under Production Sharing Agreement to a Consortium comprised of Petrobras, as the Operator, with 40%, Shell with 20%, Total with 20%, CNODC with 10% and CNOOC Limited with 10% interest. The Consortium also has the participation of the state-owned company Pré-Sal Petróleo SA (PPSA) as manager of the Production Sharing Contract.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/12122019/sbm-offshore-signs-fpso-sepetiba-contracts/

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