Brazil's Petrobras kicks off process to contract 2 FPSOs

Brazil’s state-run oil firm Petrobras began the process of contracting two FPSOs for the Atapu and Sépia offshore fields.

Bids are expected to be received in July and production is due to begin in 2028.

"Platforms P-84 (Atapu) and P-85 (Sépia) will each have production capacity of 225,000b/d of oil and 10Mm3/d of gas," Petrobras said in a statement. 

"The platform design, standardized between the two units, represents a step in technological evolution for the reduction of greenhouse gas emissions, with emphasis on the introduction of the all-electric concept in projects of this size, which consists of an engineering concept for more efficient generation of energy," it added.

Petrobras is the operator of the two areas. It has a 65.7% stake in Atapu while Shell has 16.7%, TotalEnergies 15%, Petrogal 1.7 % and the federal government, represented by Pré-Sal Petróleo, 0.9%. 

Regarding Sépia, Petrobras has 55.3%, TotalEnergies 16.9%, Petronas Petróleo Brasil 12.7%, QatarEnergy 12.7% and Petrogal (2.4%). 

Brazil has the highest demand for FPSOs in the world due to the production characteristics. Orders for the vessels are closely monitored by project finance players since they involve at least US$1bn.