FPSO Cidade de Mangaratiba Begins 20-Year Charter in Santos Basin

FPSO Cidade de Mangaratiba, image: Schahin Group

MODEC announced today the FPSO Cidade de Mangaratiba MV24 achieved first oil in October at block BM-S-11 in Santos Basin offshore Brazil.  The vessel is on a 20-year charter to Tupi B.V., a Dutch company owned by Petrobras Netherlands B.V. (65%), BG Group (25%), and Galp Energia E&P Brasil B.V.(10%).

Moored in waters 2,200 meters deep, FPSO Cidade de Mangaratiba MV24 is capable of producing 150,000 bbls of oil per day and 280 million standard cubic feet of gas with a storage capacity of 1.6 million bbls of oil.  She is jointly owned by MODEC and Schahin Group and was converted from the VLCC Sunrise J in 2012.

MODEC notes this is the 9th FPSO they have provided offshore Brazil and their third to operate in the pre-salt after the FPSO Cidade de Angra dos Reis MV22 and the FPSO Cidade de Sao Paolo MV23.

Last week, MODEC and their partner Schahin Group won a contract from Petrobras to provide a similar FPSO which will eventually be installed at block BM-C-36 in Campos Basin in 2017.

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