Numbers don’t lie as they reveal Petrobras’ strategy for FPSOs. Of the 18 FPSOs set to be contracted, 10 have already been awarded, with 12 of the total slated to be leased units and only 6 owned by Petrobras. This marks a shift, tilting the current 40% leased vs. owned ratio further toward leasing.
But at what lifting cost? (Ineep and Dieese numbers)
For post-salt deepwater, leased units have 15% higher lifting costs.
For ultra-deepwater pre-salt, the difference soars to 50% higher lifting costs for leased units.
Managing and operating FPSOs isn’t Petrobras’ core business. Yet, owning units can provide an economical advantage while also driving Brazil’s shipbuilding and support industries. On tankers, sovereignty and logistical control under state management are clear benefits.
So why the shift to leasing FPSOs? If owned units are more cost-efficient in the long run, is Petrobras prioritizing short-term flexibility over long-term strategy? Cash restrains?
What’s your take?
Tag: Petrobras
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FPSO is not mine
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WSSV new Bid
Petrobras released a new Well Simulation Support Vessel (WSSV) public tender, approximately one year after re-chartering the Stim Star Arabian Gulf. This new tender allows for up to 3 vessels to be chartered, in which Petrobras most likely seeks to re-absorb the remaining 3 WSSVs already operating in their fleet.
The opportunity will take offers of both Brazilian and foreign-flagged vessels, with current deadline for submissions on December 4th.
This type of tender leads to three contracts for the awarded company(ies): one charter party agreement for the vessel, one services agreement for the well stimulation plant and one agreement for the supply of chemical products.
For further details on this tender or other information about our Offshore segment, please contact us at comercial@cms.oneenergynews.com -
Transpetro Bid
The Transpetro – Petrobras Transporte S. A. TP-25 Shipbuilding Program
The tender for the first four handy-size tankers (15-18 thousand DWT) of Transpetro’s TP-25 shipbuilding program has received a bid from shipyard Rio Grande S.A, in partnership with Mac Laren. Among 20 pre-qualified bidders, this offer quotes around USD 75 million per vessel—a total of USD 300 million for all four units, or approximately BRL 1.7 billion.
The absence of additional contenders and adherence to deadlines, notably without repeated postponements, indicate that Transpetro is moving decisively forward, on their commitment to meeting fleet renewal demands pushing for market alignment. This approach also highlights the potential for Brazilian shipbuilding costs to benefit from scale, achieving greater competitiveness with shipbuilding leaders, especially China.
WSB Advisors is proud to have acted as advisors to the offering group in this tender. As the process advances to the negotiation and approval phases, several critical steps remain before the contract can be finalized. -
WSB Advisors workshop
WSB Advisors hosted the fourth and final quarterly workshop of the year last Thursday, November 7. After two previous events for shipowners and a seminar, we’re closing the season by welcoming leaders from chartering companies to our office.
Our team—Alexandre Mattar Vilela, Raphael Montes, Joana Rodrigues, Pedro Pellegrini and Daniel Buckley—presented an overview of vessels in Brazil, including an analysis of current and projected daily charter rates for OSVs in the country and more.
In addition, guests discussed key industry topics such as vessel lifespans, flags, tonnage, and reviewed real market case studies.
Key points:
• History, present, and future of rates
• Market implications
• Brazilian legislation
•Contracts, bidding processes, new builds, circularization, and vessel blocks
• Green energy and the energy transition: more supply and more demand?
• Decommissioning and dismantling
• Ships types, aging, newbuilding demands
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Tender update
Tender Update: Petrobras Signs Contracts to Meet AHTS Demand
We’re pleased to share that Petrobras has now signed contracts for the recent AHTS TS/TO tender, fulfilling all demand requirements.
For our WSBOne subscribers, this information with vessel names and dates is already live on our online platform, offering early insights into contract developments. The ability to predict and track vessel movements, departures, and arrivals remains a critical part of the intelligence that drives our industry forward.
Stay connected for more updates as we continue to deliver timely and actionable insights. -
Production news: some updates
ANP has released its monthly report on oil and gas production for September this year. A notable highlight is the record production in the pre-salt region, which reached 3.681 million boed. The pre-salt also achieved a record share of national oil and gas production, accounting for 81.2% of the total 4.539 million boed produced.
Additionally, Brazil recorded an overall increase in oil production compared to the previous month. In September, total production in Brazil reached 3.470 million boed, reflecting a 3.9% increase compared to August. However, this marks a 5.5% decline compared to the same month in 2023. Natural gas production was 169.92 million m³ per day, another record for Brazil. This represents a 6.4% increase compared to August 2024 and a 7.6% increase compared to September 2023.
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New Petrobras PSV tender
Petrobras has released a new SEP tender (invitational) to charter up to 3 PSVs.
The PSVs are divided into different specifications (Multipurpose, Fluid Carrier, Oil Carrier & General Cargo) and will be chartered according to a pre-defined priority order.
Offers are for 4-year firm contracts with delivery in November 2025 or 180 days after contract signature.
All the vessels must be DP-2 and age not above 20 years
Current deadline to send proposals:
November 15, 2024 at 17:00 LT
To learn more details about the specifications of the vessels, please contact us at comercial@cms.oneenergynews.com
Priority order:
PSV 4500 DWT MULTIPURPOSE
PSV 4500 DWT FLUID CARRIER
PSV 4500 DWT GENERAL CARGO
PSV 4000 DWT GENERAL CARGO
PSV 3000 DWT GENERAL CARGO
PSV 3000 DWT OIL CARRIER
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FPSO in brazilian waters
The FPSO Almirante Tamandaré has arrived in Brazil. This unit will be installed in the Búzios field, located in the pre-salt layer of the Santos Basin, with operations managed by Petrobras. Like the Sepetiba, the vessel was built by SBM Offshore.
The FPSO has a production capacity of up to 225,000 barrels of oil equivalent per day and can process 12 million cubic meters of gas daily. She left the CMHI shipyard in China on July 31 and will join five other platforms currently operating in the field: FPSOs P-74, P-75, P-76, P-77, and Almirante Barroso.
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Baker Hughes and Petrobras: a new agreement
Baker Hughes has announced the closing of contracts with Petrobras to provide 77 km of flexible pipe systems to be deployed in Brazil’s pre-salt fields. The agreement was signed following a public tender.
The project includes risers and flowlines for hydrocarbon production, as well as associated gas and water injection, with support for equipment storage, maintenance, and installation. Delivery is scheduled to begin in mid-2026, and the equipment will be utilized across Petrobras’ Búzios, Libra, Berbigão, Sururu, and Sépia fields.
Earlier this year, the company announced several agreements with Petrobras, including additional contracts for 69.1 km of flexible pipe systems and associated services in the third quarter. Other awards have included integrated well construction services in the Búzios field and integrated solutions for workover and plug-and-abandon services across Petrobras’ pre-salt and post-salt fields.
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Solstad renew contracts
Solstad Offshore has announced the details of contracts for three OSVs operating in Brazil. The company also reported that the combined gross value of the contracts is approximately $53 million.
The AHTSs Normand Topazio and Normand Turmalina will be chartered for an additional year by PRIO and Brava, respectively. Earlier this month, the vessel Normand Cutter has finished a contract with Ocyan and started a new one with Prio.
Want to read more? Get in touch with our commercial department to have access to WSB. One.
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Norbe VIII at Guanabara Bay
The drillship Norbe VIII, owned by Foresea, has been anchored in Guanabara Bay, between the cities of Rio de Janeiro and Niterói. The vessel is currently undergoing the final stage of a scheduled maintenance that began on August 9 of this year.
Norbe VIII arrived in Rio de Janeiro after spending 28 days in maintenance at a dry dock in Rio Grande do Sul, where it underwent cleaning, painting and general inspection, in a process managed by Ecovix.
WSB reports that the vessel is expected to resume operations in November under a new contract with Petrobras. The last work was in Mero 4, Santos Basin.
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FPSO with first oil
Petrobras has announced that the FPSO Maria Quitéria produced its first oil on last Tuesday (15), in Jubarte Field, Campos Basin. The vessel has the capacity to produce up to 100.000 boed of crude and can process up to 5 million cubic meters of gas.
Built by Yinson, the FPSO departed from China in May and arrived in Brazil in August, with its first oil production occurring earlier than originally planned, which was expected for 2025.