Petrobras Eyes Addition of 14 FPSOs by 2026

Petrobras looks to drastically boost production from Brazil’s presalt and post-salt offshore formation in the next four years with the addition of 14 new FPSO units.

Petrobras Eyes Addition of 14 FPSOs by 2026

The FPSO Guanabara MV31 is deployed for operations in the Mero (formerly Libra) Field operated by Petrobras, located in the giant presalt region of the Santos Basin off the coast of Brazil. (Source: MODEC)

Brazil’s state-owned oil and gas producer Petrobras expects to bring online 2.25 million bbl/d of production between 2023-26 with the incorporation of 14 new and already contracted FPSO units offshore Brazil.

The 14 new units will add significant production over the next four years and follow the successful start-up of 12 units between 2017-21 and one unit in 2022, the Guanabara FPSO at the Mero 1 development, Petrobras revealed last week on its second-quarter earnings webcast. Eleven units are targeting the pre-salt formation while just three will target the post-salt.

Ongoing FPSO incorporation is part of Petrobras’ business strategy focused on growing both reserves and production in the prolific presalt formation, while divesting non-strategic higher lifting cost assets as well as others related to refining, distribution, energy and natural gas across its portfolio.

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Pietro Pitts

Pietro Donatello Pitts is a senior energy reporter for Hart Energy. He covers Latin America and the Caribbean as well as regions from North America to Europe, Africa and Asia. He covers topics spanning from the upstream, midstream and downstream sectors to the energy transition and geopolitical events impacting the global energy sector.