Brazilian oil and gas company PetroRio has signed binding documents for the acquisition of the OSX-3 FPSO for $140 million and the farm-in with Dommo Energia of 80% in the Tubarão Martelo field (TBMT) off Brazil, where the vessel is currently chartered.
PetroRio said on Monday that the acquisition would allow for the tieback between TBMT and Polvo field, thus simplifying the production system and creating a private oilfield cluster, while enabling significant synergies, lifting cost reductions, and the extension of the useful life of both fields.
Once the tieback takes place, the company estimates Polvo’s and TBMT’s combined opex, which is currently over $200 million per year ($100 million for Polvo + $100 million for TBMT), will be reduced to less than $80 million per year.
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