Petrobras clarifies the new FPSO project for the Barracuda and Caratinga fields

Regarding the new FPSO-type platform project for the Barracuda and Caratinga fields, Petrobras clarifies that the unit is one of six already planned within the Campos Basin Renewal Program. The first two FPSOs – Anita Garibaldi and Anna Nery – started oil production in 2023.

Within Petrobras’ governance, in stages of project maturity evolution, it was defined in September 2022 by the contracting of a chartered FPSO, and based on this definition, the bases for the contracting strategy were established. It should be clarified that the Barracuda and Caratinga fields are part of the so-called Round Zero of the ANP, where there is no legal requirement for local content. Petrobras complies with the requirements of local content, as well as all relevant regulations, established by the ANP in the Concession and Production Sharing contracts for the contracting of all its production units.

It is important to highlight that the cancellation of the bidding process would have a direct consequence of delaying the project, with prejudice for Petrobras and for Brazil, with the respective deferral or loss of income from taxes and royalties. Additionally, it would make it impossible to meet the commitments assumed with the ANP in terms of extending the concession.

Petrobras also understands that there is a significant challenge already posed for the national industry. The demand for the manufacture of FPSO modules foreseen in the company’s project portfolio, for entry into operation by 2028, exceeds the historical demand of the naval industry, considering the fulfillment of the local content foreseen in the concession, sharing and onerous assignment contracts. In addition, the company identifies a value in the availability of a local chain of suppliers of goods and services, including maintenance and decommissioning, capable of meeting the company’s demand at competitive prices, including ensuring greater resilience in complying with its Strategic Planning in a scenario of geographic rearrangement of global productive chains.

Therefore, Petrobras recognizes the need to support the local industry to meet this portfolio and the company is in constant dialogue with the government, class entities and suppliers, through working groups that were created in 2023. jointly elaborated, necessary measures for the national industry to generate employment and income for the country and to meet the deadlines required by Petrobras projects.

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