Blog

Repsol Sinopec Brasil, Equinor and Petrobras announced this week that they decided to
invest in the development of the BM-C-33 field, a condensed gas field located in the pre-salt
layer of the Campos Basin, in the state of Rio de Janeiro.

The approximate cost is US$ 9 billion, with start-up scheduled for 2028. An FPSO will
be contracted and designed to produce 16 million m³/day of natural gas. The objective is
to connect the field to the Cabiúnas Terminal in Macaé, in the North region of Rio de Janeiro
state. Repsol Sinopec Brasil and Equinor hold 35% each of this exploration in BM-C-33
while Petrobras owns 30%. Block BM-C-33 is located approximately 200 km from the coast,
in water depths of up to 2,900 m.

Petrobras informed last Monday (08), that it started production in the Campos Basin with
the FPSO Anna Nery. The innitative is part of a project to revitalize the Marlim and Voador
fields which will exploit the post-salt and Brava reservoirs. The platform can produce up to
70,000 barrels of oil per day and process 4 million m³ of gas. FPSO Anita Garibaldi is also
part of the Campos Basin revitalization project.

The objective is to increase from 560.000 to 900.000 boeds by 2027. The FPSO Anna
Nery is supplied by Yinson, from Malaysia. It is anchored in a water depth of 927 meters and
connected with 32 wells

SAAM Towage Brazil concluded the purchase of 21 tugboats from the Brazilian shipping
company Starnav, out of which 19 tugs currently operating in Brazilian waters and two additional
vessels that are in final construction phase. The agreed-upon total value of the Starnav assets
is USD 198 million. The outstanding debts on the assets will be deducted from this amount
upon closing. Once the new assets have been integrated, the company will have a fleet of 69
tugboats distributed over 19 Brazilian ports.

Earlier this week AHTS 9000 Vasileos P arrived in Brazil. The EBN responsible for mobilizing
the vessel to Brazil, Tranship, decided to dock her in order to make adaptations in oil tanks
so that’s she is able to work in fuel runs as well. When the docking is finished, she will be
working in the spot market. Currently sailing under the flag of Republic of Malta, the vessel
will be put in the special Brazilian register (REB) and renamed to Beta Juniz

The year has apparently just begun for Petrobras as the first tendering processes for offshore vessels are starting do hit the market. After releasing tenders for WSSV and UMS, a new opportunity for AHTS is now in the market. Petrobras seeks to hire at least one AHTS with minimum 150T bollard pull for TS-TO operations. The firm duration for any awarded vessels will be 4 years with commencement expected for December 2023 and owners will be granted a 120-day mobilization period to deliver the vessel to Petrobras.

UMS Safe Zephyrus has begun earlier last week its new 650 days firm contract with Brazilian oil company Petrobras. After a bidding process that took place in November 2022, the semi-submersible vessel built in 2016 was awarded the contract in December, 2022. This unit has accommodation capacity for 450 people. Prosafe owns another 2 units for maintenance and safety in Brazil, Safe Notos and Safe Eurus, both chartered by Petrobras as well.

The Norwegian oil company Equinor awarded earlier last week a 7 day spot contract to PSV
4500 Starnav Andromeda. She will perform cargo runs to FPSO Peregrino. The 2014 built
vessel is Brazilian flag and has 921 sqm of free deck area.

Last day 24 april, Petrobras released the official qualification notice for their latest
AHTS tender. After disqualifying the first two contenders from CBO, AH Liguria and AH
Valletta, for not considering the installation of battery packs – a mandatory requirement of the
tender which intended to hire up to two vessels with hybrid-propulsion – Petrobras officialises
the technical and commercial qualification of Bram Offshore’s Mr. Chafic.

If no claims/appeals are made by the competing bidders, thus resulting in an award for the vessel, owners
Bram Offshore will be granted by Petrobras a 12-month period after beginning of operations
for the vessel to be fully compliant with the battery pack requirements. Will this be the
first ever vessel to display a hybrid propulsion configuration in Brazil? Or maybe someone
else will beat Petrobras to it? Regardless of who achieves it first, when it happens it will be
a milestone that will undoubtedly provoke great changes in our offshore market.

The Mexican flagged vessel Puerto Real, from owners Marinsa, arrived in Rio de Janeiro
earlier this week. The vessel will be operated by Zemax Log for a contract of engineering and
optical fibre system supply with Petrobras. The offshore vessel was in Panama and made a 47-day voyage to come to Brazil. The vessel is only two years old, has a length of 85 meters, a width of 20.4 meters and a DWT of 3.233 tons.

Petrobras issued a new tender for the contracting of a WSSV (Well Stimulation
Support Vessel). The contract period is of four years firm with commencement expected
for 365 days upon contract execution. The tender will accept Brazilian (or REB) and
foreign tonnage, although the later will only be considered in case no Brazilian flagged vessel
is offered.

All vessels currently working for Petrobras under this scope are foreign flagged. This type of tender foresees three different types of contracts with the awarded company: charter party agreement, well stimulation services and supply of chemical products. Bidders have until May 22nd to present an
offer.

PSV 3500 CBO Ana Luisa has been fixed by PRIO for 9 months firm plus an optional period
of 3 months with commencement expected for July, 2023. The award was given in connection
to the tendering process for contracting of a small fluid carrier vessel. She will support the
upcoming drilling activities of PRIO in some of their offshore assets. She has previously
operated in the integrated logistics contract between CBO and Petrobras.

The Norwegian shipyard Green Yard Kleven AS has signed a retrofit project with the Brazilian
shipowner Oceânica. This is the fourth contract signed between them. The AHTS is now named
Oceanicasub X. The vessel will be rebuilt for operations off the Brazilian coast. The new
contract follows the deliveries of Oceanicasub VIII and Oceanicasub IX last month, both
vessels recently arrived in Brazilian waters