Petrobras, BG Group charter FPSO for Guara oil and gas field in the Santos Basin

Petrobras, the BG Group, and Repsol signed a letter of intentions with the Schahin/Modec consortium Tuesday (01/26) for the chartering and operation of the FPSO that will operate as the hydrocarbons production, storage and offloading unit for the Guará pilot, located in block BM-S-9, in the pre-salt area of the Santos Basin. Under the document, the agreements will have a term of 20 years. 

The FPSO, capable of producing 120,000 barrels of oil and 5 million cubic meters of gas per day, is expected to go on stream at the Guara presalt oil and gas field in late 2012. The agreement to be signed for the construction of this new FPSO calls for 65% local content. Furthermore, it also determines that the hull will be converted abroad, but its several modules integrated in Brazil. 

During the ceremony, Petrobras’ Exploration and Production Director, Guilherme Estrella, highlighted the “importance of including the Brazilian business community in the construction of major oil production units in Brazil and of the consortium formed by Petrobras, BG, and Repsol having approved a project of these dimensions with a high degree of national content.” To Estrella, this project proves the trust major international operators have in the Brazilian industry. 

Following suit, the Executive Manager for E&P-PRESAL, José Formigli, emphasized that in addition to the project being the second biggest pilot to be installed in the Santos Basin’s pre-salt area, it is also the first major chartered unit to be converted with a high level of national content, on competitive bases, and with mobilization terms coherent with the production target set for the development of production in the Santos Basin’s Pre-Salt pole. To Formigli: “this is a milestone not only for Petrobras, rather for the entire Brazilian industry." 

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