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Petrobras to hire new FPSO for the Buzios field, starts bidding process

Petrobras FPSO_IFM_Image
The P-80 will be the largest oil production unit operating in Brazil

Brazil-based oil giant Petrobras is looking to hire new FPSO for the Búzios field, in the Santos Basin pre-salt and has started the bidding process, media reports said. Named the P-80, it will not only be one of the largest oil production units operating in Brazil, but one of the largest in the world. It will have a capacity to process 225 000 bpd of oil and 12 million m3/d of gas. Discovered in 2010, The Búzios field is the largest deepwater oilfield in the world and is Petrobras’ most productive asset.

Last month, Petrobras acquired BP’s stake in six offshore blocks in the Foz do Amazonas Basin. The financial details of this deal were not disclosed. BP transferred its 30 percent stake in the offshore assets to Petrobras. This means now Petrobras owns a 100 percent stake in the blocks.

In this regard, Petrobras said, “The transaction is in line with the 2021-2025 Strategic Plan, which outlined new exploratory fronts outside the Southeast basins, and is part of the company’s portfolio-management process, prioritising investments in world-class deep-water and ultradeep-water assets.”

Earlier this year, five Petrobras board members stepped down following the removal of its chief executive officer (CEO) Roberto Castello Branco. Brazilian President Jair Bolsonaro ousted the CEO following a string of fuel price increases.

Last year, Petrobras has set a new record for annual output. The oil company pumped an average of 2.28 million bpd in 2020. It broke its previous record of an average of 2.23 million bpd, which was set in 2015.

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