Petrobras re-bid on FPSOs

Brazil

RIO DE JANEIRO, June 3, 2016 – Brazil’s Petrobras has cancelled the tender for two floating production, storage and offloading (FPSO) vessels and offered them up for another round of bidding. Sources confirm the firm alerted interested parties yesterday.

The previous offer for the two FPSOs, Libra and Sepia, was bid on by Japan’s Modec International, Norway’s BW Offshore and Dutch firms SBM Offshore and Bluewater on April 8.

The Libra can process 180,000 bopd, with natural gas processing facilities able to handle up to 12 mcm (424 mcf) per day. The contract is for 22 years. The Sepia will be chartered for 21 years, and can process 180,000 bopd and 5 mcm (177 mcf) of gas per day. The two FPSOs are expected to begin producing in 2020.

The new bids follow the rise of Pedro Parente as the new CEO of Petrobras.

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