The transaction entailed the sale to SBM Offshore of Constellation’s equity ownership in the lease and operating companies related to five Brazilian FPSOs.
Oil and gas production has started at the P-68 FPSO located in BM-S-11-A Concession in Berbigão, Sururu and West Atapu.
The FPSO will be chartered for 21 years and deployed in the Búzios field in the Santos Basin, offshore Brazil.
Petrobras and CNODC offered the the minimum allowed profit oil of 29.96% for rights to explore and produce oil at the Aram block in Brazil's Santos Basin.
Petrobras and Chinese state firms CNOOC and CNODC made the only bids out of over a dozen major oil firms who had registered. Two of four blocks on offer got no bids.
The survey started in late 2018 and covered the Buzios field, lying in approximately 2000 m water depth.
Under the terms of the agreement, Emerson will provide dedicated servers and associated hardware infrastructure to Petrobras and manage those systems on its behalf.
Formed in 2015, Subsea Integration Alliance is a strategic global alliance between Subsea 7 and OneSubsea, the subsea technologies, production and processing systems division of Schlumberger.
Under the agreement, Shell will reduce its stake in the discovery from 80% to 50% and continue as operator, while Total will retain the remaining 20%.
The marketing agreement is for a term of up to 5 years and provides Karoon with access to Shell West’s global marketing and shipping platform.