Brazil’s state oil firm Petrobras has signed a deal with Japan’s Modec, a supplier of offshore platforms, to build and operate a platform for linking up to 17 wells in the Libra block offshore Brazil.
In making the announcement, Petrobras did not reveal the cost but did say the deal is good for 22 years with production expected to start in 2021.
The floating production storage and offloading (FPSO) vessel is expected to process 180,000 bpd of oil and 12 million cubic metres of gas from the Mero Field location in the northwest part of Libra, about 110 miles off of Rio de Janeiro.
It is in the pre-salt of the Santos Basin.
Petrobras is the lead partner in the Libra consortium with a 40% stake. Other partners are Shell with 20%, Total (20%), CNOOC (10%) and CNPC (10%).