Petrobras, Partners Approve Mero-4 FPSO

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Brazilian state oil producer Petrobras and its partners have signed a letter of intent for a new floating production, storage and offloading (FPSO) unit for the deepwater Mero-4 development. The FPSO unit, to be named Alexandre de Gusmao, will have processing capacity for 180,000 b/d of oil and 12 MMcm/d of natural gas. The deal with SBM Offshore puts the project a step closer to a final investment decision (FID), following three prior stages at the massive offshore Mero pre-salt field, which was formerly known as Libra. Production in Mero-4 is scheduled to start up in 2025, one of more than a dozen FPSOs that Brazil plans to bring on line in the coming years. That includes Equinor's recent FID for the Bacalhau project, representing the first pre-salt scheme for an international operator (OD Jun.1'21). Petrobras operates Mero-4 with a 40% stake, and is partnered by Royal Dutch Shell with 20%, French major TotalEnergies with 20%, and Chinese companies CNPC and CNOOC with 10% each. The partners took a final investment decision on Mero-3 in August 2020 (OD Aug.17'20).

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