Seatrium secures $11b FPSO contracts from Petrobras

Expected completion is in 2029.

Seatrium Limited bagged $11b worth of contracts for the newbuild supply of Floating Production Storage and Offloading vessels (FPSO) platforms P-84 and P-85 from Brazil’s national oil company Petróleo Brasileiro S.A. (Petrobras).

In a statement, Seatrium said the FPSOs will be deployed in the Atapu and Sépia fields located in the eastern part of the Santos Basin, which is approximately 200 kilometres offshore of Rio de Janeiro in Brazil.

The P-84 and P-85 FPSOs will each have a production capacity of 225,000 barrels of oil per day (bopd) and gas processing capacity of 10 million cubic metres per day (Sm3/d), Seatrium said.

To enhance operational efficiency, the company said it will incorporate technologies, such as zero routine flaring and venting, variable speed drives and measures to control emissions and capture carbon, including an all-electric concept, which focuses on efficient power generation and increased energy efficiency to achieve a 30% reduction in greenhouse gas emissions intensity. 

The construction is scheduled to begin in the first quarter of 2025, with target completion in 2029.

“Supply of the FPSO platforms will leverage the Group’s ‘One Seatrium Delivery Model,’ where operations and engineering support are integrated across different yards globally,” the company said.

Seatrium said its facilities in Brazil, China, and Singapore will manufacture the modules, weighing 60,000 metric tonnes, with the outsourced hull and accommodation transported to Singapore for topside module integration and commissioning. 

After the integration and commissioning in Singapore, the FPSO platforms will be towed to the Atapu and Sépia fields for offshore commissioning.

“Leveraging our worldwide engineering, procurement and project management expertise in close collaboration with our customers, we will create quality assets with the highest safety standards and a lower carbon footprint, shaping the industry for a greener future,” Seatrium, CEO Chris Ong said.

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Prior to this, Seatrium’s current projects in Brazil include other FPSOs, Floating Storage Regasification Units, drilling rigs, and accommodation vessels. Its current order book includes four other Petrobras FPSO newbuilds, the P-78, P-80, P-82 and P-83.