Japan-based MODEC is set to deliver a floating production storage and offloading (FPSO) vessel for the Buzios field offshore Brazil owned 100% by Petróleo Brasileiro (Petrobras).

The FPSO to be delivered by the Japanese company will be the fifth such vessel to be deployed at the Buzios field, which is contained in the pre-salt of Santos Basin.

MODEC has been issued a letter of intent (LOI) from the Brazilian state-owned company for supply, charter, and operations of the vessel with the firm time charter period of the contract being 21 years.

The Japanese firm will handle the engineering, procurement, construction, mobilisation, chartering and operations of the vessel, including topsides processing equipment and also hull and marine systems. SOFEC, a MODEC group company, will undertake design and supply of the spread mooring system for the floating unit.

The new FPSO will be the first chartered production platform for the region. It will have a processing capacity of 150,000 barrels of crude oil per day, 212 million standard cubic feet of gas per day, and 240,000 barrels of water injection per day. Apart from that, the FPSO will have minimum storage capacity of 1,400,000 barrels of crude oil.

The fifth FPSO at the Buzios field is expected to draw its first oil in 2022.

MODEC president and CEO Yuji Kozai said: “This most recent award represents a continued strong relationship of trust between our client Petrobras and us, and it strengthens our leading position as an offshore oil and gas production service provider in Brazil.

“We are committed to carry out this major project by cooperating closely with our client in order to contribute to the advancement of the energy industry in Brazil.”

Buzios field production

The new FPSO will be joining the producing P-74, P-75, P-76 and the P-77 platforms at the Buzios field, which was discovered in 2010, and is the main field under Brazil’s Transfer of Rights Agreement.

The offshore Brazilian field began production in April 2018 through the P-74 platform. In March 2019, P-77 became the fourth platform at the Buzios field to enter into production.