Malaysian shipping giant MISC has entered into a letter of intent with Brazilian oil major Petrobras for the provision of an FPSO to be installed at the Mero 3 development offshore Brazil.
The letter of intent sets the term of the charter at 22.5 years from the date of final acceptance of the Mero 3 FPSO, which is expected to commence operation in the first half of 2024.
The Mero 3 FPSO, to be named Marechal Duque de Caxias, will be installed at the Mero field located in the Libra Block in the Santos Basin. It will be the third unit to be installed in the Mero field and will have a processing capacity of 180,000 barrels of oil and 12m cbm of gas per day.
The Mero field is the third largest of the pre-salt and is located in the Libra area, and is operated by Petrobras which holds a 40% stake.