SBM Offshore awarded LOI, operate contracts for FPSO Mero 2 lease

6/12/2019

AMSTERDAM -- SBM Offshore has announced that it has signed a Letter of Intent (LOI), together with Petróleo Brasileiro S.A. (Petrobras), for a 22.5 years lease and operate of FPSO Mero 2, to be deployed at Mero field in the Santos basin offshore Brazil, 180 km offshore Rio de Janeiro.

The Libra block, where the Mero field is located, is under Production Sharing Agreement to a Consortium comprised of Petrobras, as the operator, with 40%, Shell with 20%, Total with 20%, CNODC with 10% and CNOOC Limited with 10% interest. The Consortium also has the participation of the state-owned company Pré-Sal Petróleo SA (PPSA) as manager of the Production Sharing Contract.

SBM Offshore will design and construct the FPSO Mero 2 using its industry leading Fast4WardTM program as it incorporates the Company’s new build, multi-purpose hull combined with several standardized topsides modules. This means that two out of three Fast4WardTM hulls currently under construction have now formally been allocated to projects.

The FPSO will be designed to produce 180,000 bopd. Furthermore the FPSO will have a water injection capacity of 250,000 bpd, associated gas treatment capacity of 12 MMscmd and a minimum storage capacity of 1.4 MMbbl of crude oil. The weight of the FPSO topside modules will be around 33,000 tons. The FPSO will be spread moored in approximately 2,000-m water depth. Delivery of the FPSO is expected in 2022.

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