MONACO – Tupi BV has executed contracts for the 20-year charter and operation of two FPSOs on the Lula field in the Santos basin offshore Brazil.
Cidade de Maricà and Cidade de Saquarema will operate on block BM-S-11 for the Petrobras, BG, and Petrogal consortium.
The vessels will be operated by a joint venture owned by affiliated companies of SBM Offshore, Mitsubishi, Nippon Yusen Kabushiki Kaisha, and Queiroz Galvão Óleo e Gás.
SBM Offshore is charged with the construction of Cidade de Maricà and Cidade de Saquarema. Both vessels will be of the same design as the Cidade de Ilhabela, which is due to launch next year.
The new vessels are expected to be completed by end-2015 and early 2016. Total contract value is $3.5 billion.