MISC announced on Monday that the company has accepted letter of intent (LOI) from Petróleo Brasileiro S.A. (“Petrobras”), for the provision of: (i) a floating production storage and offloading facility (“Mero 3 FPSO”) located offshore Rio de Janeiro in the Libra block, Santos Basin, Brazil; and (ii) operation and maintenance services during the charter phase of Mero 3 FPSO.
Pursuant to the LOI, the term of the charter is 22.5 years from the date of final acceptance of the Mero 3 FPSO by Petrobras. The Mero 3 FPSO is expected to commence operation in the first half of 2024
The Mero field is owned by the Libra Consortium. The Libra Consortium is led by Petrobras with a 40% interest in partnership with Shell Brasil Petróleo Ltda. (20%), Total E&P do Brasil Ltda. (20%), CNODC Brasil Petróleo e Gás Ltda. (10%), CNOOC Petroleum Brasil Ltda. (10%) and Empresa Brasileira de Administração de Petróleo e Gás Natural S.A. – Pré-Sal Petróleo S.A. (PPSA) (0%, as manager of the production sharing agreement).
MISC’s President & Group Chief Executive Officer, Mr. Yee Yang Chien said, “We would like to thank Petrobras for their confidence and trust in MISC for this major deep-water project in one of the main hotspots for FPSO in the world. It has been a two year journey in our march towards securing our first deep-water FPSO project in Brazil. This project is close to the hearts of many, especially the various teams across the Offshore Business division who deserve a thumbs up for all their dedication and commitment in making this day a reality for the Group.
MISC is one of the largest FPSO/FSO owner-operator in the world,with assets in Malaysia, Vietnam and Brazil. One of the FPSO owned by MISC, Espirito Santo is currently operating in offshore Brazil operated by Brazillian Deepwater Production Contractors Ltd.
(BDPC), a joint venture with SBM Offshore.
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