Seatrium Clinches Petrobras Deals for FPSO New Constructs P-84 and P-85

Seatrium Limited (Seatrium, or the Group), a global provider of engineering solutions for the offshore, marine, and energy sectors, has secured an international tender from Brazil’s National Oil Company, Petróleo Brasileiro S.A. (Petrobras), acting as the operator of the Atapu and Sepia consortiums. The tender involves the construction of Floating Production Storage and Offloading vessels (FPSO) platforms P-84 and P-85. Valued at approximately S$11 billion, these high-capacity FPSOs will be deployed in the Atapu and Sépia fields, situated in the eastern part of the Santos Basin, about 200 kilometers offshore of Rio de Janeiro, Brazil.

The P-84 and P-85 platforms represent Petrobras' latest generation of FPSO platforms, distinguished by their high production capacity and emphasis on sustainable practices through innovative technologies. Each FPSO, P-84 and P-85, will boast a production capacity of 225,000 barrels of oil per day (bopd) and a gas processing capacity of 10 million cubic meters per day (Sm3/d). Incorporating cutting-edge technologies like zero routine flaring and venting, variable speed drives, and emissions control measures including CO2 capture, the FPSOs will embrace an all-electric concept aimed at efficient power generation and heightened energy efficiency, ultimately targeting a 30% reduction in greenhouse gas emissions intensity. These advancements not only enhance operational efficiency but also minimize environmental impact, underscoring Seatrium's dedication to responsible and sustainable operations.

The construction of FPSOs P-84 and P-85 is scheduled to begin in the first quarter of 2025, with final delivery anticipated in 2029.

The supply of FPSO platforms will utilize the Group’s “One Seatrium Delivery Model,” integrating operations and engineering support across various yards worldwide. Seatrium’s facilities in Brazil, China, and Singapore will produce the modules, which collectively weigh an impressive 60,000 metric tonnes. The hull and accommodation will be outsourced and transported to Singapore for the integration and commissioning of the topside modules. Following successful integration and commissioning in Singapore, the FPSO platforms will be towed to the Atapu and Sépia fields for offshore commissioning.

This efficient delivery model enhances collaboration and makes the most of Seatrium's worldwide facilities and international yard presence to provide top-notch platforms expected to surpass industry benchmarks, all while maintaining adherence to sustainable practices within the oil and gas sector.

Mr. Chris Ong, CEO of Seatrium, expressed, "We are privileged to have been chosen by Petrobras following a rigorous tender process to provide the P-84 and P-85 FPSO vessels, reinforcing our standing as the preferred partner for groundbreaking projects. With the One Seatrium Delivery Model, we are globally integrated to deliver cost-efficient, value-enhancing solutions to our esteemed clientele. By harnessing our extensive engineering, procurement, and project management capabilities worldwide, in close cooperation with our clients, we aim to develop high-quality assets with paramount safety standards and a reduced carbon footprint, thereby shaping the industry towards a more environmentally sustainable future."

Seatrium stands as the sole global offshore and marine engineering entity offering comprehensive project delivery across key markets, notably in Brazil. Over the years, the Group has successfully executed a substantial portfolio of projects in Brazil, encompassing FPSOs, Floating Storage Regasification Units, drilling rigs, and accommodation vessels, all aimed at bolstering the nation's expanding energy infrastructure. Presently, its order book includes four additional Petrobras FPSO newbuilds, namely the P-78, P-80, P-82, and P-83. Beyond generating over 10,000 employment opportunities, Seatrium has made significant contributions to the advancement and enrichment of the local communities where it operates.