Brazilian state-owned energy heavyweight Petrobras has confirmed the first oil from a new floating production
owned by the Netherlands-based SBM Offshore
as the vessel has begun operations at a huge field in the pre-salt Santos Basin off the coast of Brazil
Petrobras has brought online the first high-capacity unit
contributing to the field reaching a production level of 1 million barrels of oil per day
The vessel is named after Joaquim Marques Lisboa
a 19th-century military hero and admiral of Brazil’s Imperial Army
which is equipped with decarbonization technologies
such as a closed flare system that helps curb greenhouse gas (GHG) emissions into the atmosphere
also features heat recovery technologies that reduce the demand for additional energy
The Búzios consortium consists of Petrobras (operator)
a company responsible for managing production-sharing contracts (PSCs)
While announcing “another giant in the pre-salt,” PPSA underlined: “Today
the Búzios field is already the second largest oil producer in the Union
the production of Búzios will increase even more
will already reflect in positive results for the whole society.”
Located in the pre-salt layer of the Santos Basin
the project is envisioned to have 15 wells connected through a subsea infrastructure
1 convertible well (producer and injector)
Petrobras anticipates that Búzios will shortly become its largest producing field
reaching 2 million barrels per day by 2030
The FPSO Almirante Tamandaré is part of the field’s floating production set
consisting of five other FPSOs operating at the field: P-74
The Búzios field started production in 2018 and is said to be the largest field in the world in ultra-deep waters
which already accounts for over 20% of Petrobras’ total production
The firm plans to spend the biggest slice of its $111 billion investment for the next five years on oil and natural gas
while the total spending in the energy transition arena is expected to reach $16.3 billion
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Petrobras says the first production well has been hooked up to the FPSO Marechal Duque de Caxias at the Mero field in the presalt Santos Basin offshore Brazil
Preparations for startup are now in the final phase
the third permanent production platform over the field
is designed to produce up to 180,000 bbl/d of oil and 12MMcm/d of gas
Last Saturday, the FPSO Almirante Tamandaré arrived from China at the Búzios field in the same region following its voyage from China
It will potentially produce up to 225,000 bbl/d of oil and process 12MMcm/d of gas
Petrobras’ global production averaged 2,721 MMboe/d
The company says it remains on track to stay within its 2024-28+ Strategic Plan target range of 2.8 MMboe/d +- 4%
Third-quarter oil production in the presalt was stable at 1,822 MMbbl/d, due largely to increased output through the FPSO Sepetiba on the Mero field
New wells also came online at the FPSO Almirante Barroso (Búzios) and the FPSO Maricá (Tupi field)
with 10 new injection wells entering service at fields in the Santos and Campos basins
Petrobras commenced production from the FPSO Almirante Tamandaré (Búzios 7) on Feb
located in the pre-salt layer of the Santos Basin
This is the first high-capacity unit to be installed in the field
with the potential to produce up to 225,000 barrels of oil per day (bpd) and process 12 million cubic meters of gas daily
15 wells will be connected to the platform through a subsea infrastructure
The FPSO Almirante Tamandaré is part of the sixth production system of Búzios and will contribute to the field reaching a production level of 1 million bopd
it is anticipated that Búzios will become Petrobras' largest production field
with the goal of reaching 2 million bopd by 2030
in addition to having above-average capacity compared to industry standards
it is equipped with decarbonization technologies
which helps reduce greenhouse gas emissions into the atmosphere
The unit also features heat recovery technologies that reduce the demand for additional energy
The Búzios consortium is composed of Petrobras (operator)
the Chinese partner companies CNOOC and CNODC
the company responsible for managing production-sharing contracts
Brazilian state-owned energy giant Petrobras has finished the anchoring activities for its new floating production
which is said to be the biggest one off the coast of Brazil to date
the FPSO arrived at its offshore destination in October 2024
and offshore commissioning activities to achieve the first oil in early 2025
describes as the ”largest producing FPSO in Brazil” and “the first in Brazil with a Sustainability-1 Notation,” got its name as a tribute to Joaquim Marques Lisboa
who was a 19th-century military hero and admiral of Brazil’s Imperial Army
underlined: “It is with great pride that we announce the completion of the anchoring of the FPSO Almirante Tamandaré
“This is another historic milestone for SUB
consolidating the anchoring of our largest production platform
With a lot of determination and a highly committed team
we mobilized strategic resources to carry out the Hook Up of this giant
moving forward with the operations of the EPCI contract.”The FPSO is destined to work on the Petrobras-operated Búzios field
With the potential to produce up to 225,000 barrels of oil per day (bpd) and process 12 million cubic meters of gas per day
the FPSO’s design incorporates SBM Offshore’s Fast4Ward new build
Petrobras’ Engineer of Subsea Equipment outlined: “Teams from planning
service providers and many other internal and external areas
worked in a coordinated manner to ensure on-time delivery
with a total focus on safety during the execution of services in the 24 mooring systems of this GIANT.“This record is further proof that we are prepared for the challenges of the future
always with the commitment to operate safely
I embark on this giant to contribute to the pull-in team
Equipped with decarbonization technologies to curb greenhouse gas emissions
the FPSO Almirante Tamandaré also comes with the technology to use heat
eliminating the need for additional energy
on top of equipment for removing CO2 from gas and its subsequent injection into the reservoir
The unit will have an estimated greenhouse gas (GHG) emission intensity below 10 kg CO2e/boe
Petrobras reached a cumulative production of 1 billion barrels of oil from Búzios in March 2024
with five FPSOs operating on the field: P-74
The Búzios consortium encompasses Petrobras (operator)
the company managing the production sharing contracts (PSCs)
The Brazilian giant is also pursuing oil and gas development projects outside Brazil. Recently, the firm confirmed the results from a gas discovery off the coast of Colombia
An investment of $1.2 billion is expected in the exploratory phase and another $2.9 billion in the production development phase to see the Colombian project through, as included in Petrobras’ ‘2025-2029 Business Plan.’
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SBM Offshore announced that its FPSO Almirante Tamandaré is formally on hire as of February 16
2025 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance
FPSO Almirante Tamandaré is the largest oil producing unit in Brazil with a processing capacity of 225,000 barrels of oil and 12 million m3 of gas per day
This FPSO has an estimated greenhouse gas (GHG) emission intensity below 10 kgCO2e/boe1 and benefits from emission reduction technologies such as the closed flare technology which increases gas utilization
preventing it from being burnt into the atmosphere
FPSO Almirante Tamandaré is the first unit in Brazil to receive a Sustainability-1 Notation2 certification reflecting the company’s efforts to reduce emissions over the lifecycle of the vessel
FPSO Almirante Tamandaré is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (55%) and its partners (45%)
The FPSO will operate under a 26.25-year charter and operation services contracts with Petróleo Brasileiro S.A
FPSO Almirante Tamandaré is installed at the Búzios unitized field located in the Santos Basin
approximately 180 kilometers offshore Rio de Janeiro in Brazil
The Búzios unitized field is operated by Petrobras (88.99%) in partnership with CNODC (3.67%) and CNOOC (7.34%)
AIS has secured a subsea insulation contract award for the latest phase of Petrobras’ deepwater Mero field development in the presalt Santos basin offshore Brazil
AIS will supply its ContraTherm C25 insulation for the production PLET and the production and water-alternating-gas jumpers
It will be the company’s fifth delivery award for these types of structures in the region
ContraTherm C25 provides flow assurance for complex subsea equipment in operating temperatures of up to 150 C (302 F) and water depths of 3,000 m
The Netherlands-based SBM Offshore is closing in on the first oil from its new floating production
and offloading (FPSO) unit as the vessel has reached Brazilian waters and will be deployed at a huge field in the pre-salt Santos Basin off the coast of Brazil
where it will work for the country’s state-owned energy heavyweight
which was named after Joaquim Marques Lisboa
Marquis of Tamandaré and a 19th-century military hero and admiral of Brazil’s Imperial Army
which left the China Merchants Heavy Industry (CMHI) shipyard in China on July 31
where it is due to be deployed as the first high-capacity unit to be installed
The FPSO Almirante Tamandaré has arrived in Brazil to join the other five FPSOs operating in the field: P-74
With the potential to produce up to 225,000 barrels of oil (bpd) and process 12 million cubic meters of gas per day
the FPSO Almirante Tamandaré comes equipped with technologies for decarbonization
slashes emissions of greenhouse gases (GHG)
The FPSO also features technologies for heat recovery
which curb the demand for additional energy
the vessel sports equipment for removing CO2 from the gas and its subsequent injection into the reservoir
This unit will have an estimated greenhouse gas emission intensity below 10 kg CO2e/boe
the Búzios field came online in 2018 and is said to be the largest field in the world in ultra-deep waters
which already accounts for more than 20% of Petrobras’ total production
and PPSA – the company managing the production sharing contracts
The FPSO’s design incorporates SBM Offshore’s Fast4Ward new build, multi-purpose hull, which was nearing completion at the yard in February 2023. The first oil is slated for 2024. The vessel’s arrival in Brazil comes shortly after the Dutch player divested a minority stake in an FPSO
which is working on another of Petrobras’ giant oil fields in the Santos Basin
This FPSO will work on ExxonMobil’s fourth oil project in the Stabroek block
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the Netherlands-based SBM Offshore is looking forward to the arrival of its new floating production
and offloading (FPSO) vessel at a giant field in the pre-salt Santos Basin off the coast of Brazil
which was named after Joaquim Marques Lisboa
The FPSO left the China Merchants Heavy Industry (CMHI) shipyard in China on Wednesday
where it is set to be the first high-capacity unit to be installed
which was nearing completion at the yard in February 2023
“The journey just begins for FPSO Almirante Tamandaré with a successful sail away from China
which is set to be the largest in SBM Offshore’s fleet
has started its journey toward Brazil to serve Petrobras
both project and operations for this great achievement
and best wishes for the journey ahead,” outlined SBM Offshore
The FPSO Almirante Tamandaré has been equipped with decarbonization technologies
reduces greenhouse gas emissions into the atmosphere
the technology for using heat eliminates the need for additional energy
on top of equipment for removing CO2 from the gas and its subsequent injection into the reservoir
commented: “The FPSO Almirante Tamandaré will be a fundamental resource for the evolution of production in the Búzios field
I would also like to highlight the technologies of this platform
one of Petrobras’ main objectives in all its operations.”
with the sum of the production produced by five FPSO units operating in the field: P-74
China’s ZPMC launched the fore part of a hull for another FPSO destined to be deployed to the same field, shortly after CIMC Raffles won two engineering
and construction (EPC) contracts with Seatrium for FPSO hulls related to a pair of units that will also work for Petrobras upon completion
and operation of offshore floating facilities
is putting the finishing touches in place to make three floating production
and offloading (FPSO) vessels ready to start their assignments next year
Two of these will be deployed at oil fields offshore Brazil while one is destined for ExxonMobil’s project off the coast of Guyana
Following a recent purchase of one of the units working at the Stabroek block
The Dutch deepwater ocean infrastructure player’s directional revenue for the third quarter of 2024 stood at $2.84 billion
a 26% increase compared with $2.25 billion in the same period last year
which is said to be supported by both the Lease and Operate and Turnkey segments
SBM Offshore’s directional Lease and Operate year-to-date revenue was $1.8 billion compared with $1.4 billion in the third quarter of 2023
mainly reflecting the contribution of FPSOs Prosperity and Sepetiba joining the fleet upon delivery in Q4 2023 and Q1 2024 respectively
This revenue increase is attributed to a rise in the reimbursable scope of the fleet and the additional contribution from Angolan entities following the Sonangol transaction
partially offset by the lower revenue generation from FPSO Liza Unity after the sale of the vessel in Q4 2023 with a contribution coming solely now under the operations and maintenance enabling agreement
the directional Turnkey revenue improved by 24% to $1.04 billion compared with $835 million in the same period last year
This $200 million increase was mainly driven by the contract award for FPSO Jaguar and higher support to the fleet through brownfield activities
partly offset by a comparatively lower revenue booked in the construction portfolio as projects approach completion
the firm’s directional net debt went up by $603 million to $7.26 billion for the period ending Q3 2024
driven by drawings under the project finance facilities that reflect the continued investment in the construction program of four FPSOs
three of which are on track to start work in 2025
commented: “Our project portfolio continues to progress as per plan
with three units expected to reach first oil in the course of next year
This convergence towards excellence across our lifecycle is greatly helped by the fast learning achieved through our Fast4Ward program.”
The first of these units, FPSO Almirante Tamandaré, left a Chinese yard shortly after a naming ceremony was held for the vessel
which Tangen claims will become the ”largest producing FPSO in Brazil and is also the first in Brazil with a Sustainability-1 Notation,” got its name as a tribute to Joaquim Marques Lisboa
SBM Offshore has confirmed the FPSO Almirante Tamandaré’s delivery and arrival at its offshore destination
The next items on the list – installation
and offshore commissioning activities – are said to be progressing in line with the plan
The FPSO will be deployed to the Petrobras-operated Búzios field
This giant FPSO is sporting decarbonization technologies
slashes greenhouse gas (GHG) emissions with the technology for using heat curbing the need for additional energy
with five FPSO units operating at the field: P-74, P-75, P-76, P-77
The second unit on the list of projects preparing to cross the finish line is the FPSO Alexandre de Gusmão with the integration phase completed
the teams are focusing on commissioning activities until sail-away
Thanks to a 22.5-year lease and operation contract with Petrobras
this vessel has been hired to work at the Mero field offshore Brazil
where it will become the fourth definitive system installed on the field in the Santos Basin approximately 160 kilometers offshore Rio de Janeiro in Brazil.
The field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%)
and PPSA (3.5%), representing the government in the non-contracted area
The third unit on SBM Offshore’s list of the ones nearing completion is the FPSO One Guyana for which the construction of topside modules started in September 2022 with two steel strike ceremonies held in both Keppel FELS and Dyna-Mac yards to mark the occasion.
The Dutch firm has confirmed the progress in the integration and onshore commissioning activities
which are said to be in line with the plan
including the completion of the power plant commissioning
the first oil is slated for the second half of 2025
The FPSO One Guyana will have an optimum production capacity of 250,000 barrels per day (bpd) of oil
a storage capacity of two million barrels of crude oil
a gas treatment capacity of 450 million ft³ a day
and a water injection capacity of 300,000 bpd
The Stabroek block covers 6.6 million acres or 26,800 square kilometers and is operated by ExxonMobil’s affiliate Esso Exploration and Production Guyana with a 45% interest
The company’s partners in the block are Hess Guyana Exploration (30%) and CNOOC Petroleum Guyana (25%)
SBM Offshore has received a notification from ExxonMobil Guyana about its intention to exercise its right to purchase FPSO Liza Destiny by year-end 2024
ahead of the end of the maximum lease term which would have expired in December 2029
The purchase of the FPSO Liza Destiny will enable ExxonMobil to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO, which started production in December 2019 as part of the Liza Phase 1 development.
The Netherlands-based company intends to apply net cash proceeds to the full repayment of the $405 million outstanding project financing to decrease its net debt position
which will be boosted with the repayment of the $979 million outstanding financing for FPSO Prosperity
SBM Offshore’s 2024 directional revenue guidance has been increased to above $6 billion of which over $2.3 billion is anticipated from the Lease and Operate segment and more than $3.7 billion from the Turnkey segment
The firm’s 2024 directional EBITDA guidance has jumped to around $1.9 billion
Based on the Dutch giant’s data, the topsides’ fabrication for the FPSO Jaguar recently started in Singapore and the Fast4Ward MPF hull’s delivery is due in the last quarter of 2024
The first oil is scheduled to be achieved in 2027
The total number of MPF hulls ordered to date under the firm’s Fast4Ward program stands at nine
with three Fast4Ward-based vessels now in operation
five hulls allocated to projects in construction
and one reserved as part of tendering activities
SBM Offshore’s fleet’s uptime was 95% year-to-date
mainly reflecting the shutdown of two units in the same period last year
The Dutch player, together with its partner Technip Energies, was recently entrusted with the construction and installation of an FPSO for TotalEnergies’ new oil development project in Block 58 off the coast of Suriname
The firm’s mission to accelerate the decarbonization of traditional energy production is said to have been recognized by the American Bureau of Shipping (ABS)
which bestowed its approval in principle (AiP) for the Dutch player’s tower loading unit and catenary anchor leg mooring soft yoke systems designed for ammonia and CO2 injection
Petrobras has proven more oil in the giant Búzios field in the presalt Santos basin offshore Brazil
Well 9-BUZ-99D-RJS was drilled in the field’s western area
Tests at a depth of 5,600 m confirmed the presence of oil reservoirs via electrical profiles
Petrobras has also started operations at the field’s sixth FPSO
This is the first of several higher-capacity platforms ordered for the ongoing development of Búzios
with the potential to produce up to 225,000 b/d of oil and to process 12 MMcm/d of gas
The company plans to eventually connect seven oil producers
and one producer/injector to the subsea infrastructure
production should have reached 1 MMb/d of oil
Almirante Tamandaré, leased from SBM Offshore
features a closed flare system to reduce emissions and heat recovery technologies that should limit onboard demand for additional energy
Brazil’s state-owned oil and gas giant Petrobras has unveiled its new business plan for the 2025-2029 period (BP 2025-29) and strategic plan 2050 (SP 2050)
outlining its focus and priorities to reinforce its long-term vision
While the first envisions a multibillion-dollar investment program
the second one showcases the Brazilian player’s vision of striking a balancing act between oil and gas developments and low-carbon businesses
Petrobras’ plan for the 2024-2028 period indicated that oil and natural gas would be given the biggest slice of the Brazilian player’s $102 billion investment pie
as the firm perceived these sources as drivers of growth that would propel and fund the energy transition to greener sources of supply
The firm’s board of directors has now approved its new plan
aiming to build the company’s path to the future based on its strategic positions
which intends to reflect on the future of the planet and how the company wants to be recognized in 2050
The five-year plan spotlights the company’s focus on efforts to take advantage of opportunities in the oil and gas market
increasing production with a lower carbon footprint
and expanding the supply of more sustainable and higher-quality products in its portfolio
the BP 2025-29 plan forecasts investments of $111 billion
with $98 billion for projects under implementation and $13 billion for those under evaluation
consisting of opportunities with a lower degree of maturity and subject to additional financing studies before the execution begins
The total investment expected in the next five years is 9% higher than the volume projected in the last strategic plan 2024–28
Petrobras has earmarked $77.3 billion for its Exploration and Production (E&P) segment over the upcoming five years
which is 5% higher than in the previous plan
The firm is allocating around 60% to pre-salt assets and carrying out major revitalization projects (REVITs)
seeking to increase recovery factors in mature fields
ten new production systems will be implemented by 2029
with technologies that are expected to allow for greater efficiency and lower emissions
nine of which have already been contracted
Petrobras also confirms five more projects are being implemented beyond 2029 and another six projects are under study
The Brazilian player is the operator of all these projects
The company plans to achieve total production of 3.2 million barrels of oil and gas equivalent per day (boed)
of which 2.5 million barrels of oil per day (bpd)
Petrobras has increased investments in exploration activities
The proposed plan also includes projects to increase the availability of gas and a closer look at mature assets to assess the possibilities for extending the productive life of the assets and their production systems and
starting decommissioning activities with the best sustainability practices in the disposal of assets at the end of their life cycle
The sustainable disposal of equipment and the abandonment of wells is estimated to require an expenditure of $9.9 billion over the next five years
Petrobras’ Natural Gas and Power (G&P) segment will receive total investments of $2.6 billion
maintaining the initiatives outlined in the previous plan with a focus on the reliability and availability of its assets
including projects for emissions reduction and initiatives for the integration of renewable sources
The company is considering the development of two thermal power plants (TPPs) in the Boaventura Energy Complex in Itaboraí (Rio de Janeiro)
with the implementation of these projects being conditional on success in future energy capacity reserve auctions
the approved plan considers projects and research in onshore renewable generation (wind/solar); bioproducts (ethanol
and biomethane); low-carbon hydrogen; carbon capture
Considering all low-carbon initiatives for scopes 1
the total investment is expected to reach $16.3 billion in the energy transition
which aside from low-carbon energy projects entails decarbonization and research & development (R&D) that involves all segments
and a 42% increase compared to the previous plan
The six decarbonization commitments for scopes 1 and 2 emissions proposed in the previous plan are maintained for the BP 2025-29
such as reduction of total absolute operational emissions of 30% by 2030 compared to 2015; zero routine flaring by 2030; reinjection of 80 million tCO2 by 2025 in CCUS projects; GHG intensity in the E&P segment of 15 kgCO₂e/boe by 2025
maintained at 15 kgCO₂e/boe by 2030; and the reduction in the methane emissions intensity in the upstream segment by 2025
and reaching 0.20 t CH₄/thousand THC in 2030
Regarding ambitions associated with carbon footprint reduction
the goals include achieving operational emissions neutrality by 2050
not exceeding the 2022 emission level of 40% reduction since 2015
even with the increase in production and activities planned in the BP 2025-29
with cash generation higher than investments and financial obligations
while maintaining solid project approval governance
which guarantees profitable investments approved only with a positive net present value (NPV) in a robust scenario
the company aims to ensure that the value generated is distributed to society through dividends and taxes,” underlined Petrobras
the strategic plan 2050 is said to preserve Petrobras’ vision of being “the best diversified and integrated energy company in value generation
building a more sustainable world by balancing the focus on oil and gas with diversification into low-carbon businesses.” The Brazilian player underlines that this entails petrochemical products
Petrobras claims that it has the competitive edge of low-cost oil production and one of the lowest carbon footprints in the world
making it possible to “reconcile leadership in the just energy transition with responsible oil and gas exploration” to keep future production levels close to the current ones
The company elaborates that its planning incorporates the ambition to maintain its current relevance in supplying energy and in the economic development of Brazil
rising from 4.3 exajoules (EJ) in 2022 to 6.8 EJ in 2050
preserving its representativeness at 31% of the country’s primary energy supply while also reaffirming its ambition to neutralize its operational emissions by 2050
The Brazilian giant underscored: “SP 2050 and BP 2025-29 demonstrate Petrobras’ commitment to reconciling oil and gas exploration and production with leadership in the just energy transition
The company is preparing itself for the routes of this transition with an increase of investments in energy transition and portfolio diversification in a responsible and profitable way
“The SP 2050 outlines the path Petrobras will take as a leader in the just energy transition
maintaining its share in Brazil’s energy supply
and increasing the role of renewable energies in its portfolio
thereby contributing to the country’s energy security.”
Brazilian state-owned oil and gas giant Petrobras has achieved a record daily oil production at its field located in the pre-salt Santos Basin offshore Brazil
situated about 180 kilometers off the coast of Rio de Janeiro
reached a record of 800 thousand barrels of oil produced daily on February 24
“The milestone of 800 thousand barrels per day is yet another in the collection of records that Búzios is very proud of
and with the progressive implementation of the FPSO Almirante Tamandaré
which will be the largest unit in the country
we will begin the work of moving our teams towards the milestone of 1 million barrels per day,” said Luiz Otávio Schmall dos Santos
The previous daily production record at the Búzios field was set in January 2024
The Brazilian major claims the field has recorded a level of 750 thousand barrels per day for more than 20 days over the past year
In March 2024, Búzios reached the cumulative production mark of 1 billion barrels of oil and its potential increased even further with the arrival of Almirante Tamandaré in Brazil in October
The FPSO is the largest installation of its kind in Brazil and the first with the capacity to produce up to 225,000 barrels of oil and process 12 million cubic meters of gas daily
“With the launch of FPSO Almirante Tamandaré
our expectation is to reach a new daily production milestone in Búzios in a short period of time: 1 million barrels
Búzios’ production potential should reach 1.5 million barrels per day by 2030,” noted Petrobras’ Exploration and Production Director
is the second field in terms of production volume and reserves in the country
The deepwater field is operated by Petrobras (88.98% stake)
in partnership with CNOOC (7.34%) and CNPC (3.67%)
Ingersoll Rand Engineering Project Solutions At Ingersoll Rand’s Engineering Project Solutions, we have been managing and implementing engineered to-order air packages for complex technical requirements for over 60 years. We provide specialized custom compressed air and gas compressors as well as nitrogen generation packages to international EPC contractors and engineering companies across a range of […]
ProductionPetrobras eyes massive flow rates in new Buzios FPSOAlmirante Tamandare FPSO has recently started operation in the giant pre-salt development
Rigs and VesselsPetrobras starts pre-salt production from Maria Quiteria FPSOCompany also working to deploy two more FPSOs in Brazil by the end of the year
Field DevelopmentBrazil-bound FPSO set to leave Chinese yard in daysSBM has christened the Almirante Tamandare at China Merchants Heavy Industry, with sailaway scheduled before the end of July
Towed by the oceangoing tugs BOKA Defender, BOKA Expedition and BOKA Sherpa, the FPSO Almirante Tamandaré arrived in Brazilian waters during December 2024.
This 336m-long FPSO is one of the largest offshore structures ever to be moored in Brazilian waters.
For Boskalis, this was a significant transport project, because earlier this year the company’s vessels towed Almirante Tamandaré’s sister vessel –FPSO Sepetiba – using the oceangoing tugs BOKA Fulmar, BOKA Alpine and BOKA Glacier from Southeast Asia to Brazil.
These two exceptional transports are testament of the company’s capabilities of transporting huge offshore structures around the world with its fleet of 13 long-distance towing vessels, and 11 semi-submersible heavy transport vessels.
The FPSO was officially named by Dutch FPSO operator SBM Offshore in July 2024. The floating production, storage and offloading (FPSO) vessel will operate at the giant field off the coast of Brazil for the country’s state-owned energy company Petrobras.
The FPSO’s design incorporates SBM Offshore’s Fast4Ward new build, multi-purpose hull, which was completed in February 2023. With a processing capacity of 225,000 barrels of oil and 12 million cubic metres of gas per day, the unit will have an estimated greenhouse gas (GHG) emission intensity below 10 kg CO2e/boe.
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Rigs and VesselsSBM’s latest FPSO en route to Brazil after departure from Chinese yardAlmirante Tamandare FPSO is third floater built by Chinese yards for Petrobras to be delivered this year
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Brazilian state-owned energy giant Petrobras has kicked off production from a new floating production storage and offloading (FPSO) vessel
deployed at – what the company deems to be – the largest deepwater field in the world
which is located in the pre-salt Santos Basin offshore Brazil
in the state of Rio de Janeiro to start commissioning in a local shipyard
Petrobras confirmed the start-up of production from the FPSO Almirante Barroso
which has the capacity to produce daily up to 150 thousand barrels of oil and 6 million m³ of gas
This vessel is expected to contribute to the oil production of the Búzios field
which currently averages 560,000 barrels per day
equivalent to about 17 per cent of national production
commented: “Búzios synthesizes how representative the pre-salt is for Petrobras’ production
besides being important for the country’s energy security
when the FPSO Almirante Barroso will be close to its maximum capacity and we will have the entry of other units
the field’s production should reach close to the 700,000 barrels per day mark.”
Located 180 km off the coast of Rio de Janeiro
the FPSO Almirante Barroso operates in a water depth of 1,900 metres as the fifth platform to start operating in the Búzios field
The current development concept for the Búzios deepwater field encompasses 11 platforms
with an 88.99 per cent stake with CNOOC (7.34 per cent) and CNODC (3.67 per cent) as partners
remarked: “Buzios 5 is the first project to commence production after CNOOC Limited joins Buzios project
which will inject new momentum into our overseas production growth
We adhere to win-win cooperation with the host government and partners
to jointly develop the world-class ultra-deepwater project
and to contribute to the sustainable development of Brazil’s oil and gas industry
Dutch FPSO operator SBM Offshore has completed the project financing of an FPSO
which is destined to work at the Búzios field off Brazil
secured by a consortium of 13 international banks
This will be the largest oil-producing unit operating offshore Brazil and one of the largest in the world
SBM Offshore disclosed that it had signed the project financing of the FPSO Almirante Tamandaré for a total of $1.63 billion
provided by a consortium of 13 international banks with insurance cover from 4 international Export Credit Agencies (ECA)
the financing is composed of five separate facilities with around 6.3 per cent weighted average cost of debt and a 14-year post-completion maturity for both the ECA-covered facilities and the uncovered facility
the FPSO’s design incorporates SBM Offshore’s Fast4Ward new build
which was nearing completion at the yard in February 2023 while topsides fabrication was progressing along the way. According to SBM Offshore
this FPSO will be the largest oil-producing unit in Brazil with a processing capacity of 225,000 barrels of oil and 12 million m3 of gas per day.
The FPSO will have an estimated greenhouse gas (GHG) emission intensity below 10 kgCO2e/boe and will benefit from emission reduction technologies
which is owned and operated by a special purpose company owned by affiliated companies of SBM Offshore (55 per cent) and its partners (45 per cent)
will be deployed at the Búzios field in the Santos Basin approximately 180 kilometres offshore Rio de Janeiro in Brazil
Petrobras is operating the field in partnership with CNODC and CNOOC
Regarding SBM Offshore’s recent activities, it is worth noting that another one of its FPSOs, which will work for ExxonMobil off Guyana upon completion, recently entered drydock at the Keppel yard in Singapore
This is the firm’s largest FPSO to date and will be used for ExxonMobil’s fourth development within the Stabroek block
called the Yellowtail development project
MONACO — SBM has issued a progress report on its various FPSO construction projects
For the FPSO Sepetiba for the Mero 2 project
which is located in the presalt Santos Basin off Brazil
the topsides modules have been lifted on board and integration/commissioning activities are underway
Work in drydock on FPSO Prosperity has finished with the mooring and riser support systems installed
Topsides construction continues in Singapore
Topsides fabrication for FPSO Almirante Tamandaré and construction of the Fast4Ward Multi-Purpose Floater (MPF) hull are progressing in China and Brazil
First oil is expected during second-half 2024
Site construction activities are progressing at yards in Brazil and China for FPSO Alexandre de Gusmão
the Fast4Ward MPF hull has been delivered for FPSO ONE GUYANA
recently confirmed for the Yellowtail project off Guyana
Engineering and procurement are progressing
the vessel remains shut down while the inspection and repairs to the hull continue
This follows the detection of an oil leak in January
SBM and the client are working with Brazil’s authorities on a restart of production through the facility at the Jubarte Field
Dutch FPSO operator SBM Offshore has put its back into several floating
and two of these remain on schedule to achieve the first oil by the end of 2023
One of these vessels is destined to work in Guyana and the other one in Brazil
SBM Offshore reported a directional revenue of $1.49 billion, a 15 per cent decrease compared to $1.76 billion in 1H 2022
driven by directional turnkey revenue which decreased to $558 million compared with $909 million in the year-ago period, mainly resulting from the comparative effect of the partial divestment of the FPSOs Almirante Tamandaré and Alexandre de Gusmão at the beginning of 2022
the decrease stems from the completion of the FPSO Liza Unity project in the first half of 2022 and a reduced level of progress during the first half of 2023 compared with the same period in 2022 on the FPSO Almirante Tamandaré consistent with the commencement of topsides’ integration
partly offset by additional variation orders and increased level of activity on FPSOs Prosperity and One Guyana
The company’s directional EBITDA for 1H 2023 came in at $457 million compared with $500 million in the year-ago period while its directional net profit stood at $36 million in 1H 2023
down from $103 million in 1H 2022. The firm’s net debt increased from $6.1 billion to $7.2 billion as of 30 June 2023
reflecting the continued investment in growth
SBM Offshore’s pro-forma directional backlog increased by $1.7 billion compared with the position on 31 December 2022 to a total of $32.2 billion, mainly due to the signed ten-year operations and maintenance enabling agreement for the Guyana FPSO fleet
partially offset by turnover for the period which consumed approximately $1.5 billion of backlog
commented: “The increase in our order book to a new record level and reiteration of the 2023 guidance underline the fact that our strategy as an energy transition company is delivering results
We are on track to achieve first oil as planned this year on two major FPSO projects.
“FPSO Prosperity is already in Guyanese waters and FPSO Sepetiba has started her journey to Brazil from China. While we continue to live with the after-effects of the pandemic plus supply chain and inflationary constraints, we are progressing the remaining projects under construction and the overall margin remains robust at portfolio level.”
Following the completion of integration and onshore commissioning activities, the FPSO Prosperity departed from Singapore
project teams are completing offshore commissioning activities while the hook-up and installation campaign is progressing
The first oil is anticipated in 2023 and the FPSO will be chartered to a consortium consisting of ExxonMobil
This vessel will work on ExxonMobil’s Payara development project
located approximately 200 kilometres off Guyana
targeting an estimated resource base of about 600 million oil-equivalent barrels
The Payara project is on track to come online by the end of 2023
The FPSO Prosperity is designed to produce 220,000 barrels of oil per day
with an associated gas treatment capacity of 400 million cubic feet per day and a water injection capacity of 250,000 barrels per day
It will be able to store approximately 2 million barrels of crude oil
In February 2023, the topsides integration and onshore commissioning activities for the FPSO Sepetiba, which is destined for Petrobras’ Mero field in the Santos Basin offshore Brazil, were ongoing
which is SBM Offshore’s third Fast4Ward one
sailed away on 16 June from the BOMESC shipyard in China
the FPSO started its transit to the Mero field in the Santos Basin offshore Brazil
SBM Offshore has a contract with Petrobras for the 22.5 years lease and operation of the FPSO Sepetiba and the first oil is expected in the second half of 2023
This FPSO is capable of producing up to 180,000 bpd and Petrobras intends to put another two units into operation on the field by 2025
bringing the total number of units at the Mero field to five and corresponding to 770,000 bpd of the installed capacity in the country
the environment remains challenging with continued inflationary pressures and supply chain constraints
its fleet’s uptime was 99.5 per cent in the first half of 2023 and the total number of MPF hulls ordered to date under the company’s Fast4Ward programme
stands at eight with six delivered to projects and exclusivity for the seventh granted to ExxonMobil Guyana
The company explains that the FPSO Almirante Tamandaré’s topsides modules lifting campaign is progressing along with their integration
The FPSO delivery continues to be on track for 2024 and the first oil is anticipated in early 2025
The FPSO will be the sixth unit of the definitive system to be installed at Petrobras’ Búzios field in the Santos Basin
approximately 180 kilometres off Rio de Janeiro in Brazil
It will be capable of processing 225 thousand barrels of oil and 12 million cubic meters of gas per day
which is expected to work for Petrobras on the Mero field in the Santos Basin offshore Brazil
will be the fourth definitive system to be installed in the Mero field
the modules fabricated in Brazil are being progressively delivered at the yard in China while the topsides fabrication continues to progress
Chabas pointed out: “The economics and low emission qualities of deepwater resources mean that they will play a leading role in fulfilling future demand through the energy transition
Given the evolution of the financing market
new models and sources of finance will need to mature and evolve
“We are well placed to capitalise on this new dynamic given our ability to structure new models as in Guyana and the depth and breadth of our experience and relationships with financial institutions
The two un-allocated Multi-Purpose Floater (MPF) hulls under construction further strengthen our ability to secure new opportunities in a market with strong fundamentals.”
The Dutch FPSO operator claims to be on track to meet the target set on gas flared with a maximum average fleet target of 1.48 mmscf/d
SBM Offshore has secured a contract extension related to the lease and operations of the FPSO Mondo to December 2024
This FPSO is currently located on the Mondo field offshore Angola
The vessel started its original 15-year lease with ExxonMobil in January 2008
the pilot farm will produce the equivalent of the electricity consumption of 45,000 people and will account for approximately 10 per cent of the total installed floating wind electricity capacity in the world
we completed the successful load out of the floating foundations for our first floating offshore wind farm and integration of the turbines has commenced
This brings us one step closer to delivering the first iteration of our latest floating energy solution
demonstrating our ability to continue to innovate and to stay relevant through the energy transition and beyond,” concluded Chabas
Petroleo Brasileiro SA (Petrobras) expects to install eleven new FPSOs in the presalt offshore Brazil by 2027 with a plan to produce 2.4 MMboe
six will be allocated to Santos basin Búzios oil field: Almirante Tamandaré (2024)
P-78 and P-79 (2025); P-80 and P-82 (2026)
Petrobrás expects to deploy the Sepetiba FPSO
with production capacity of up to 180,000 b/d
the operator plans to add two new units for a total of four production systems
Jubarte field is scheduled to receive the Maria Quitéria FPSO in 2025
with a production capacity of up to 100,000 b/d
As part of the Albacora field revitalization project
a 120,000 b/d-capacity FPSO is scheduled to arrive in 2027 to operate in both the postsalt and presalt
The installations are part of Petrobras’ 2023-2027 strategic plan which earmarks $64 billion for exploration and production. Roughly 67% of the investment will be allocated to the presalt.
With the new installations, coupled with units already in operation, Petrobras expects to produce 3.1 MMboe/d in 2027, with 2.4 MMboe/d coming from the presalt.
Partners in Petrobras’ presalt layer development include Shell PLC, TotalEnergies SE, Petrogal, Repsol Sinopec, China National Offshore Oil Corp. (CNOOC), China National Oil and Gas Exploration and Development Corp. (CNODC), Carigali Sdn. Bhd., QatarEnergy, and Presal Petroleo SA (PPSA).
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
Rigs and VesselsSBM ships unfinished FPSO modules from Brazil to Chinese yard for completionLead contractor chooses to complete outstanding work at PJOE
MONACO – SBM Offshore has ordered the eighth Fast4Ward MPF FPSO hull under its Fast4Ward program
CMHI (China Merchants Heavy Industry Co.) will construct the hull
SBM has delivered six hulls to confirmed field developments and has granted exclusivity for the seventh to ExxonMobil Guyana
the company provided an update on the status of its various newbuild floaters
Topsides integration is nearing completion for the FPSO Sepetiba
and first oil should flow oil in the second half of 2023
Commissioning has started on the FPSO Prosperity for the Payara Field development off Guyana
The Fast4Ward MPF hull for the FPSO Almirante Tamandaré has reached the yard responsible for the topsides integration
The completed platform should be delivered next year followed by first oil in 2025
FPSO Alexandre de Gusmão’s Fast4Ward MPF hull has also been delivered to the integration yard
and topsides fabrication is making progress
The FPSO One Guyana’s Fast4Ward MPF hull entered drydock in Singapore
SBM has secured a one-year extension to the contract for the FPSO Mondo at the Mondo offloading terminal offshore northern Angola
but production operations should resume shortly
construction has finished of the three floating foundations for the floating offshore wind turbines for the Provence Grand Large project in the French Mediterranean
Preparations continue for the load-out to allow for integration of the three x 8.4-MW turbines by Siemens Gamesa
SBM will perform the offshore installation of the floaters and the anchoring systems
The pilot project should generate first electricity before the end of the year
05.11.2023
MONACO – SBM Offshore has issued a progress report on its construction programs for FPSOs offshore Guyana and Brazil
Around 96% of the gas produced is being consumed and reinjected
with oil production levels at 120-125,000 b/d
Maintenance and optimization activities to minimize flaring will continue until the arrival of the re-designed third stage flash gas compression system
likely to be installed around the end of the year
For the newbuild Liza Unity
topsides integration has finished and onshore commissioning is advancing
The crew is mobilizing for the vessel’s planned departure from Singapore later in the current quarter
where topsides fabrication is already under way
The project remains on track for completion in 2024
Another Fast4Ward MPF hull, for Petrobras’ Mero field FPSO Sepetiba
has been delivered to the integration yard allowing topsides modules lifting to begin
Planned preliminary acceptance is at the end of 2022 with first oil following in 2023
Construction of the Almirante Tamandaré for Petrobras’ Búzios field is progressing as planned with first oil anticipated in the second half of 2024
five of which have been allocated to the Liza Unity
The one remaining MPF hull is supporting current tendering activity
In the floating offshore wind sector, SBM is supplying and installing three floaters and mooring systems for the 25-MW Provence Grand Large project offshore southern France.
Assembly of sub-components has started with the floating substructures scheduled to be ready for load-out and installation at the end of 2022. This will be the world’s first floating offshore wind project featuring tensioned leg platform technology.
Field DevelopmentSiemens Energy to supply topside gear for P-78 FPSO offshore BrazilCompany to manufacture gas compressors and other equipment at local facility in Sao Paulo state