KUALA LUMPUR (Nov 13): Yinson Holdings Bhd has secured the floating production storage and offloading (FPSO) vessel contract for the Parque das Baleias field, offshore Brazil, from Petrobras.
In a statement on Friday (Nov 12), Petrobras said it had inked a letter of intent with Yinson’s unit Yinson Production Pte Ltd for the chartering and provision of FPSO services for the Parque das Baleias project, to be installed in the Jubarte Field, in the northern part of the Campos Basin.
The announcement came after it was reported that Petrobras in late October reversed its decision in August to rule out Yinson, the only bidder for the project, and that the two parties were close to signing an agreement for the charter.
According to Petrobras, the FPSO is scheduled to start production in the last quarter of 2024, and will be the new unit of the definitive system to be installed in the Jubarte field. The unit will have the capacity to process 100,000 barrels of oil and five million cubic metres of gas per day.
The charter and service contract will have a duration of 22 years and six months, counted from the final acceptance of the unit, said Petrobras.
Petrobras said the project foresees the interconnection of 17 wells to the FPSO, nine of them oil producers and eight water injectors, through a subsea infrastructure composed of flexible pipelines, electro-hydraulic umbilicals and wet Christmas trees.
The Parque das Baleias area is formed by the Jubarte, Baleia Anã, Cachalote, Caxaréu, Pirambú and Mangangá fields. The first field, Jubarte, was discovered in 2001.
In 2019, Petrobras and the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) entered into an agreement for the extension of the concession term until 2056 of the new unified Jubarte field, which makes it feasible to implement the new production system of the Parque das Baleias integrated project, in addition to complementary projects in the area.
Currently, four platforms are in operation: P-57, P-58, FPSO Cidade de Anchieta and FPSO Capixaba, with the latter scheduled to be in operation only until 2022.
Yinson closed three sen or 0.51% higher at RM5.88 on Friday. Year to date, the counter has gone up six sen or 1.03%.