Petrobras Says Sepetiba FPSO Starts Production

Brazilian state-run oil company Petrobras’ Sepetiba floating production storage and offloading (FPSO) unit started production on Sunday, the oil giant said in a securities filing.

Sepetiba, which has been chartered from SBM and installed at the Mero oilfield in the pre-salt of the Santos Basin, has the capacity to produce 180,000 barrels of oil per day (bpd) and a daily 12 million cubic meters of gas, Petrobras said.

Sepetiba is the third production unit installed by the company at the Mero oilfield, where it still plans to add two other units. Mero’s current output totals around 230,000 bpd, according to the Brazilian firm.

Petrobras operates and holds a 38.6% stake in the Mero oilfield. The remaining stakeholders are Shell, TotalEnergies, China’s CNPC, CNOOC and PPSA.

(Reuters – Reporting by Gabriel Araujo; Editing by Mark Porter)