The platform has reached full production capacity safely and has received a Production Acceptance Notice from the client. It is currently on hire and operating at the fully contracted day rate.
A review of decommissioning requirements for SBM’s FPSO Kuito and FPSO Brasil suggests the costs will be higher than previously estimated.
Two other vessels in the company’s fleet, the FPSO Falcon and VLCC Alba, have been laid up since 2009, and 2011, respectively. Potential sale prices may be impacted by stricter requirements concerning single-hull vessels with limited storage capacity.