Petrobras has closed a deal with Japan’s Modec Inc., which will build and operate a platform for oil production in the nation’s Libra Block, the state-controlled energy company said Dec. 18.
The company did not disclose the cost but said Modec would operate the platform, which will link up to 17 wells, for 22 years.
The FPSO unit will process up to 180,000 barrels per day of oil and 12 million cubic meters of gas, Petrobras said. Production is forecast to begin in 2021.
The vast Libra Field was the first block of Brazil’s coveted offshore presalt region to be auctioned off in 2013. In November, Petrobras said the field’s northeast section was ready to produce commercially and had proven reserves of 3.3 billion barrels. The company named the section Mero.
Petrobras owns 40% of the Libra project, with Shell and Total each owning 20%. Chinese state oil companies CNOOC Ltd. and China National Petroleum Corp. each hold 10%.
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