Sepetiba FPSO Leaves China for Brazil's Mero Field

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Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petrobras (NYSE:PBR) (Rio de Janeiro, Brazil) says its Sepetiba floating production, storage and offloading (FPSO) unit is on its way to Brazil, where it is expected to begin producing oil toward the end of the year.

Petrobras says the Sepetiba FPSO platform left its shipyard in Tianjin, China, last Friday. It will be Petrobras' third platform in the Mero Field, with another two expected to be added in the next couple of years.

Sepetiba has the capacity to produce 180,000 barrels per day (BBL/d) of oil. The platform will make a legally required stop offshore Angra do Reis in September, before moving to the Mero field in the Santos Basin. The FPSO is expected to be operational in the last quarter of 2023.

According to Petrobras, Sepetiba will boost efficiency while reducing gas emissions. It will include carbon capture, utilization and storage (CCUS) capabilities.

"More than a new production project, Sepetiba FPSO proves the successful development strategy of the Mero field, the third largest in the pre-salt layer," said Jean-Paul Prates, the president of Petrobras. "We will combine production efficiency with a reduction in greenhouse gas emissions, incorporating the most modern decarbonization technologies."

The Mero Field, which is located offshore Rio de Janeiro, produces about 230,000 BBL/d of oil and 15 million cubic meters per day of natural gas. The asset is operated by Petrobras, which holds a 38.6% stake in the consortium that includes Shell plc (NYSE:SHEL) (London, England) (19.3%), TotalEnergies SE (NYSE:TTE) (Courbevoie, France) (19.3%), China National Petroleum Corporation (CNPC) (Beijing) (9.65%), China National Offshore Oil Corporation (CNOOC) (9.65%) and Pre-sal Petroleo S.A. (3.5%).

The two remaining FPSOs to be installed in the Mero Field are the Mal. Duque de Caxias FPSO, which is expected to be online by next year, and the Alexandre de Gusmao FPSO, which is set to be operational by 2025, according to Petrobras. Each has a 180,000-BBL/d capacity.

Overall, Petrobras expects to bring 18 FPSO platforms online between 2023 and 2027, which would boost its overall production to 3.1 million barrels of oil-equivalent per day. During those five years, the Santos Basin is expected to receive 11 new FPSOs, the Campos Basin another five, and fields offshore Sergipe another two.

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