Netherlands-based SBM Offshore announces it has completed the divestment of a 13.5% ownership interest in the special purpose companies related to the lease and operation of the FPSO Sepetiba to China Merchants Financial Leasing (Hong Kong) Holding Co., Limited (CMFL).
This follows the announcement on February 10, 2022, of an agreement whereby CMFL would acquire its ownership interest after the FPSO Sepetiba had commenced operations. SBM Offshore is operator of the FPSO and will remain the majority shareholder with 51% ownership interest.
FPSO Sepetiba is installed at the Mero unitized field located in the Santos Basin, approximately 180 kilometers offshore Rio de Janeiro in Brazil. The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo S.A. (PPSA) (3.5%), representing the government in the non-contracted area.
The FPSO has a daily crude oil processing capacity of 180,000 barrels (9 million tons per year), a storage capacity of 1.4 million barrels and a daily processing capacity of 12 million cubic meters of produced gas.
The Mero field, Brazil’s third-largest after Tupi and Búzios, began production in the second phase of its development a few months after Petrobras welcomed the vessel’s arrival in Brazilian waters.