SBM Offshore to Lease FPSO for Brazilian Operations

3 June 2010 (Last Updated June 3rd, 2010 18:30)

An affiliate of SBM Offshore and Queiroz Galvão Óleo e Gás in Brazil has received a letter of intent from Petrobras Netherlands and Petroleo Brasileiro for a 20-year FPSO vessel contract. SBM Offshore said the vessel will be deployed in the Tupi Nordeste development in the pre-salt area o

An affiliate of SBM Offshore and Queiroz Galvão Óleo e Gás in Brazil has received a letter of intent from Petrobras Netherlands and Petroleo Brasileiro for a 20-year FPSO vessel contract.

SBM Offshore said the vessel will be deployed in the Tupi Nordeste development in the pre-salt area off the Brazilian cost and is expected to earn the company $3.75bn.

The FPSO will be equipped to process 150,000bpd of production fluids, 5,000,000m3/d of associated gas treatment with compression and carbon dioxide removal, and a 150,000bpd water injection facility.

The unit will be owned and operated by a consortium of SBM-affiliated companies including QGOG, Nippon Yusen Kabushiki Kaisha and ITOCHU Corporation, the company said.

The vessel is scheduled to be delivered within 34 months, it said.