SBM Offshore closes in on Petrobras FPSO contract

SBM Offshore has signed a letter of intent with Petrobras for a 22.5 year lease and operate contract for FPSO Mero 2, to be deployed at the Mero field in the Santos Basin offshore Brazil.

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%).

SBM Offshore will design and construct the FPSO, which is capable of producing 180,000 barrels of oil per day.

“The signing of this letter of intent demonstrates again that SBM Offshore has started a new era of growth. Not only does this award represent the Company’s re-entry in Brazil, one of the most important markets for the Company with one of our key customers, it also re-confirms the competitiveness of our Fast4Ward concept while expanding its geographical reach,” said Bruno Chabas, CEO of SBM Offshore.

In April, SMB 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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