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Petrobras and Yinson ink US$5Bn FPSO deal
Petrobras has signed contracts with Malaysia’s Yinson Production for the charter, operation and maintenance of floating production storage and offloading (FPSO) vessel Maria Quitéria for the Parque das Baleias Integrated Project, offshore Brazil
Maria Quitéria will be installed in the Jubarte Field, located in the north of the Campos Basin.
The estimated aggregate value of the contracts is roughly US$5.2Bn. The chartering and service contracts will last 22 years and 6 months from the unit’s final acceptance with no option to extend the term of the charter beyond that period.
The contracts follow the same parameters as two letters of intent signed in November 2021. The FPSO is expected to start operations Q4 2024.
The unit will have the capacity to process 100,000 barrels of oil and 5M m3 of gas per day. The project provides for the interconnection of 17 wells to the FPSO, nine of which are oil producers and eight water injectors.
The Parque das Baleias area is formed by the fields of Jubarte, Baleia Anã, Cachalote, Caxaréu, Pirambú and Mangangá. The first field, Jubarte, was discovered in 2001. In 2019, Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels signed an agreement to extend the concession period until 2056 for the new unified Jubarte field, which enables the implementation of the new production system of the Parque das Baleias Integrated Project, in addition to complementary projects in the area.
Currently, four platforms are in operation: P-57, P-58, FPSO Cidade de Anchieta and FPSO Capixaba, which will discontinue operations sometime this year.
This month, Petrobras said FPSO Guanabara had arrived at the Mero field (the third-largest pre-salt field), in the Libra Block offshore Brazil. The vessel will be the first definitive system to operate in Mero.
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