Brazil’s Santos Basin field development continues with the addition of two more FPSOs

BG Group and partners today announced a tender process for the charter of two further Floating Production, Storage and Offloading (FPSO) vessels to be used in the full field development of the discoveries on blocks BM-S-9 and BM-S-11 in the Santos Basin, offshore Brazil.

The two latest FPSOs build upon the current production facility commitments. Each will have a production capacity of 150 000 barrels of oil per day (bopd) and approximately 212 million cubic feet of gas per day. The modules are being tendered for start-up in 2014. One FPSO will be allocated to the Guará Norte area on block BM-S-9 and the other to the southern area of the Cernambi field (formerly known as Iracema) on block BM-S-11.

To date, with the addition of these two new modules, a total of 13 FPSOs are being procured for the two blocks, which include the Carioca and Guará areas on BM-S-9 and, on BM-S-11, the Lula (formerly known as Tupi) and Cernambi fields as well as the Iara area. The first permanent 100 000 bopd FPSO is already in operation on the Lula field*. Two 120 000 bopd FPSOs are due onstream on the Lula field and Guará area in 2013**, and contracts for eight 150 000 bopd FPSO hulls were awarded in November 2010, with start-up expected between 2015 and 2017 ***.

BG Group Chief Executive Frank Chapman said: “The development of our world-class interests in the Santos Basin continues apace. Production from the first FPSO is already underway, and a fleet of 12 further FPSOs presently underpins our substantial development plans.”

BG Group has a 25% interest in the BM-S-11 concession (Petrobras S.A. 65% and operator, Petrogal 10%) and a 30% interest in the BM-S-9 concession (Petrobras S.A. 45% and operator, Repsol 25%).

Source: BG Group, Map: BG Group via Energy-Pedia

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