Petrobras inks FPSO LOI for Tupi Nordeste field offshore Brazil

Source: Petrobras

Petrobras (PBR) signed a Letter Of Intent with SBM Offshore N.V. and Queiroz Galvão Óleo e Gás for the construction of an FPSO that will operate the second pilot project in Tupi, in the pre-salt region of the Santos Basin.

The FPSO will be installed in Tupi Nordeste area, located at nearly 265 kilometers offshore in 2,130 meters of water and 18 kilometers from the original Tupi discovery. The FPSO will have production capacity of 120,000 bpd of light crude oil and up to 5,000,000 m3/d of natural gas, and will be operated by the companies responsible for its construction and chartered by the consortium for a 20-year period.

The project is located on Block BM-S-11 is operated by Petrobras (65%), in partnership with BG E&P do Brasil Ltda. (25%), and Petrogal Brasil/Galp Energia (10%).

The project schedule foresees delivery of the FPSO in 34 months from LOI execution date. The contracts will be signed in the next couple of days.

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