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02 Jan 2024

Brazil's Petrobras Says Sepetiba Fpso Enters Production

02 Jan 2024  by reuters   

A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photo Acquire Licensing Rights
Brazilian state-run oil company Petrobras' (PETR4.SA) Sepetiba floating production storage and offloading (FPSO) unit started production on Sunday, the oil giant said in a securities filing.

Sepetiba, which has been chartered from SBM and installed at the Mero oilfield in the pre-salt of the Santos Basin, has the capacity to produce 180,000 barrels of oil per day (bpd) and a daily 12 million cubic meters of gas, Petrobras said.

Sepetiba is the third production unit installed by the company at the Mero oilfield, where it still plans to add two other units. Mero's current output totals around 230,000 bpd, according to the Brazilian firm.

Petrobras operates and holds a 38.6% stake in the Mero oilfield. The remaining stakeholders are Shell (SHEL.L), TotalEnergies (TTEF.PA), China's CNPC, CNOOC (0883.HK) and PPSA.

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