Brazil: Petrobras Moves Forward on FPSO P-58 Project

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Researched by Industrial Info Research Lationamérica (Córdoba, Argentina)--State company Petróleo Brasileiro S.A. (NYSE:PBR) (Petrobras) (Rio de Janeiro, Brasil) is set to finish the installation of the Floating Production, Storage and Offloading (FPSO) P-58 facility in February.

In October 2013, Quip S.A., a joint venture between Grupo Queiroz Galvão, Camargo Correa S.A., UTC Engenharia, and IESA Oil and Gas (Rio Grande do Sul, Brazil), completed the conversion of the ship's hull MT Welsh Venture into the FPSO P-58. It then was delivered to Petrobras, which moved it to its final location in the Baleia Azul Field, which is in the Campos Basin. When the installation is finished, the FPSO will have a production capacity of 180,000 barrels per day of petroleum and 6 million standard cubic feet of natural gas per day.

The FPSO P-58 will send crude oil to the Norte Capixaba storage terminal in São Mateus city and will send gas to the Sul Capixaba Gas Treatment Unit (UTG) in Anchieta city; both cities are in the state of Espiritu Santo. The project has a total investment value of $543 million.

General Electric (NYSE:GE) (Fairfield, Connecticut) will provide four gas combustion turbogenerator sets, model PGT25+, each with a capacity of 31.1 MW, as well as six motocompressors to extract and offload product.

The Baleia Azul Field has hosted the FPSO Cidade de Anchieta, which represents the first exclusive pre-salt investment project in the state of Espirito Santo, since November 2012. This FPSO and the P-58 are part of Petrobas' $17 billion investment in the coast of this state. Between 2012 and 2016, about $13.3 billion will be set aside for Exploration & Production, and $3.7 billion will be set aside for Gas & Energy.

Petrobras is moving forward with plans to extract 4.2 million barrels of petroleum per day until 2020. As evidence of Petrobras' huge investments in the production, the installation of the P-58 and five new units (P-63, P-55, P-61, TAD and P-62) is scheduled for the third quarter of this year.

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