FPSO Cidade de Saquarema Producing and On Hire

abarrelfullabarrelfull wrote on 30 Dec 2016 20:50
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July 12, 2016
SBM Offshore is pleased to announce that FPSO Cidade de Saquarema is formally on hire as of July 8, 2016 after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance.

The vessel is installed in the Lula field (BM-S-11 contract) in the pre-salt province offshore Brazil. The FPSO will operate under a 20-year charter with Tupi BV as well as an operations contract with the BM-S-11 consortium. The BM-S-11 block is under concession to a consortium comprised of PETROBRAS (65%), BG E&P Brasil Ltda – a Royal Dutch Shell subsidiary (25%) and Petrogal Brasil S.A. (10%).

The FPSO is owned and operated by a Joint Venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation, Nippon Yusen Kabushiki Kaisha, and Queiroz Galvão Óleo e Gás S.A. in which SBM Offshore’s shareholding is 56%.


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