New Petrobras FPSO Contracts in October

Sept 23, 2019

In October, Petrobras will sign the charter contracts for the Marlim and Parque das Baleias FPSOs. Sources have confirmed to PetroleoHoje that the oil company concluded negotiations with newcomer Yinson and Modec a little less than two weeks ago and that the formalization of operations depends only on internal procedures.

Both Modec and Yinson offered discounts on their daily bid rates. The final values ​​of the contracts are kept confidential, but the biggest reductions were agreed with Yinson.

Rumors are that the Malaysian operator granted a discount of about 20% on the daily rate of the Parque das Baleias FPSO, in addition to a more modest rebate on the Marlim unit price.

Negotiations of the oil company with the operators began in June. The Malaysian company submitted the best bid for the Marlim Lot A unit ($ 709,869.82), while Modec offered the lowest daily rate for Lot B ($ 569,464.60 / day). In the Parque das Baleias bid, Yinson was the only bidder. The contracts have a charter term of 25 years.

According to Petrobras’ 2019-2023 Business Plan, the first Marlim unit and the Parque das Baleias unit are scheduled to go into operation in 2022, while the Marlim 2 system has first oil scheduled for 2023.

The Marlim FPSOs will be capable of producing 80,000 bopd and compressing 7 million m³ / d of gas (batch A) and 70,000 bopd and 4 million m³ / d of gas (batch B). The Parque das Baleias FPSO will have the capacity to produce 100,000 bopd and 5 million m³ / d of gas. The charter contracts will be 22 years and six months.

The signing of the contracts will mark Yinson’s debut in Brazil. The company is already recruiting people in the market.

Source: Brasil Energia Magazine