Yinson Offers the Lowest Bid in the Tender for the New Albacora Field FPSO

Aug. 10 (PN) Petrobras released the list of companies that submitted bids for the new Albacora FPSO in the Campos Basin. Malaysian company Yinson took the lead in the race, submitting the best offer at US$ 2.297 billion.

Four other companies that also submitted bids: China’s COOEC (US$ 2.842 billion); India’s Shapoorji (US$ 2.9 billion); Malaysia’s MISC (US$ 3.056 billion); and Norway’s BW (US$ 3.191 billion).

However, a caveat regarding the figure presented by COOEC is necessary. A document released by Petrobras on the Petronect platform indicates that the total price submitted by the Chinese company was US$ 2.842 billion. Yet, on another page of the same platform, the total value listed is US$ 3.743 billion. Petronotícias has contacted Petrobras to verify this discrepancy in figures and is awaiting a response.

The process now moves to the phase of verifying the validity of the leading bid to ensure full compliance with the tender requirements. Subsequently, a negotiation period will begin. If discussions progress successfully, the contract will be signed.

This marks Petrobras’ second attempt to contract the new Albacora platform. The first tender—structured as a chartering arrangement—received bids from BW Offshore and Ocyan but ended unsuccessfully due to price negotiations. For the current tender, the chosen model is BOT (Build-Operate-Transfer), under which the winning bidder will operate the vessel for a set period before transferring responsibility to Petrobras. The Albacora revitalization project entails, in its first phase, the development of the Forno reservoir—located in the pre-salt layer—followed by a stage focused on the post-salt reservoirs. The new FPSO is not expected to enter into operation until after 2031. Petrobras holds a 100% stake in the Albacora field, whereas the Forno reservoir is shared with the Brava North Block within the Manjuba accumulation. Pré-Sal Petróleo S.A. (PPSA) is responsible for managing the Brava North Production Sharing Contract.

The platform will have the capacity to produce up to 120,000 barrels of oil per day and is designed to operate for at least 20 years. The unit will be installed offshore in a water depth of 670 meters. The FPSO will receive production from subsea wells and feature processing systems to treat fluids, stabilize them, and separate produced water from natural gas. Following processing, the liquids will be measured, stored in the vessel’s cargo tanks, and transferred to shuttle tankers.

Albacora is located approximately 110 km east of Cabo de São Tomé, off the northern coast of Rio de Janeiro state. Currently, production from the field takes place via the P-25 platform (a semi-submersible unit) and the P-31 platform (an FPSO). The oil export syste