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Sembcorp Marine secures US$3 bil contract from Petrobas

Samantha Chiew
Samantha Chiew10/5/2022 07:06 AM GMT+08  • 2 min read
Sembcorp Marine secures US$3 bil contract from Petrobas
The P-82 is part of Petrobras’ new generation of production facilities. Photo: Sembcorp Marine
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Sembcorp Marine (SembMarine) announced that its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters, has been awarded an Engineering, Procurement and Construction (EPC) contract for the P-82 Floating, Production, Storage and Offloading (FPSO) vessel through an international tender from Brazilian state-owned oil and gas producer, Petroleo Brasileiro S.A. (Petrobras) for US$3.05 billion ($4.25 billion).

The P-82 is the largest contract secured by Sembcorp Marine from Petrobras and will add more than $4.25 billion to SembMarine's order book of $2.52 billion as at end June.

The newbuild FPSO will be one of the largest vessels to be deployed in the Buzios field, an ultra-deep water oil and gas field covering an area of 853 km² in the pre-salt Santos Basin, about 180 km off the coast of Rio de Janeiro, Brazil.

Scheduled for delivery in 1H2026 with expected commercial operations in 2026, the P-82 will be the 10th vessel to operate in the pre-salt field, adding a production capacity of 225,000 barrels of oil per day and 12 million cubic meters of gas processing per day.

The P-82 is part of Petrobras’ new generation of production facilities, characterised by their high production capacity and by technologies to reduce carbon dioxide emissions. The unit will also be equipped with water injection capacity of 250,000 barrels per day and a storage capacity of two million barrels of oil.

William Gu, senior vice president & head of Sembcorp Marine Rigs & Floaters says: “We are grateful to Petrobras for selecting Sembcorp Marine to undertake this landmark project. Sembcorp Marine has a suite of EPC newbuild execution capabilities built on a strong track record of floating production facilities deliveries to FPSO operators and oil majors. Combined with our state-of-the-art yard facilities in Singapore and Brazil, we are well placed to undertake complex projects such as the P-82 FPSO.”

See also: Keppel delivers first of three rigs originally built for Borr Drilling to ADNOC, collects payment of US$160 mil

Shares in SembMarine last traded 2.8% higher at 10.9 cents on Oct 4.

Photo: Sembcorp Marine

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