CIMC Raffles yard in China has secured a contract from Singapore’s Seatrium to work on two new floating production, storage, and offloading (FPSO) vessels, which will be delivered to Brazil’s Petrobras.
In May, Petrobras selected Seatrium to deliver these vessels, each with a production capacity of 225,000 barrels of oil per day (bopd) and a gas processing capacity of 10 million cubic meters per day (mcpd). The deal is valued at $8.14 billion. Construction is expected to start in the first quarter of 2025, with the final handover scheduled for 2029.
The FPSOs, named P-84 and P-85, will be deployed in the Atapu and Sépia fields in the eastern part of the Santos Basin, approximately 200 km offshore of Rio de Janeiro, Brazil.
CIMC Raffles will be responsible for constructing the hulls and residential quarters. The yard emphasized its strategic focus on FPSOs, which includes developing a specialized oil and gas R&D center, enhancing yard facilities and infrastructure, leveraging deepwater terminal resources, and innovating modular building techniques.
With this latest agreement, CIMC Raffles has previously delivered two FPSO hulls and is currently constructing four more for Petrobras.