SBM Offshore awarded long-term FPSO contract by Petrobras

Dutch FPSO operator SBM Offshore has entered into contracts with Petrobras for the lease and operation of FPSO Sepetiba for a period of 22.5 years.

The contracts follow the two parties signing a letter of intent for the deal in June.

The FPSO, which is capable of producing 180,000 barrels of oil per day, will be deployed at the Mero field in the Santos Basin offshore Brazil,. Delivery of the FPSO is expected in 2022.

The Libra block, where the Mero field is located, is under a production sharing agreement to a consortium comprised of Petrobras (40%), Shell (20%), Total (20%), CNODC (10%) and CNOOC (10%).

In April, SBM Offshore ordered up to four FPSO hulls at China Merchants Heavy Industry.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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