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Petrobras launches Buzios FPSO tender

Floater will be the fifth such production unit to be deployed in the Santos basin pre-salt development

Brazilian state-controlled oil company Petrobras has launched a tender for the charter of a new floating production, storage and offloading vessel to be deployed at the giant Buzios field in the Santos basin pre-salt province.

According to well-informed sources, Petrobras last week formally invited floater specialists including Modec International, SBM Offshore, BW Offshore, Bluewater, Teekay Offshore and Bumi Armada to participate in the tender.

Upstream understands that Petrobras is due to receive commercial proposals on 15 September for a large FPSO with capacity to produce 180,000 barrels per day of oil and 6 million cubic metres per day of natural gas.

The contract on offer is for a 21-year period. Petrobras is giving contractors a 36-month window from signing of the charter agreement to delivery of the unit.

Local content requirements for the Buzios V FPSO are said to be similar to the Sepia floater that Petrobras has recently tendered, in which Modec submitted the lowest bid with a dayrate of about $720,000.

The current Petrobras business plan for the 2017-21 period states that first oil from the Buzios V FPSO is expected in 2020.

Petrobras has already hired four FPSOs for Buzios with Brazilian contractors. The first three units – P-74, P-75 and P-76 – will enter operations in 2018 and the fourth floater – P-77 – in 2019.

Besides Buzios and Sepia, Petrobras is also tendering for a large FPSO for the Libra pre-salt field.

In late April, Modec, SBM and BW presented offers for the Libra FPSO. The winning bidder will likely be disclosed next month.