Upstream

Libra Consortium takes FID on FPSO unit for Santos Basin, Brazil

Libra Consortium Mero

The Libra Consortium, which operates in Brazil, led by Petrobras and including Shell Brazil, has taken a final investment decision to contract the Mero-4; a floating production, storage and offloading (FPSO) vessel, to be deployed at the Mero field; in the Santos Basin offshore Brazil.

Firstly, as its name implies, the Mero 4 FPSO is the fourth system deployed in the Mero field; final investment decision had already been taken previously for the Mero 1, 2, and 3 FPSO’s.

However, one of the first vessels of this kind to operate in the field was the Pionero de Libra, which has a capacity of 50,000 barrels per day. It has been operating in the Mero field since 2017; and is a key source of information for the Libra consortium to aid further development and optimize productivity of the field, reservoir and wells.

Secondly, according to Shell statement, each FPSO unit at Mero has a daily operational capacity rate of 180,000 barrels of oil/day.

Thirdly, about the importance of Mero 4, Wael Sawan, Upstream Director, Royal Dutch Shell, said. “As a replication of previous FPSOs for the Brazilian pre-salt; Mero-4 is a testimony to the way the Libra Consortium partners are working together; in an integrated way to streamline and also make our processes more efficient.”

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Libra Consortium signed a LoI for the chartering of the FPSO

He also remarked. “We are proud to continue working alongside our partners to leverage our collective expertise; in order to develop the country’s resources in a competitive and responsible manner.”

On the other hand, as said above, the Libra Consortium is a handful of companies operating offshore Brazil; the consortium leader is Petrobras, with a 40% interest; in partnership with Shell Brazil, with a 25% interest; and also, TotalEnergies (20%); CNPC (10%) and CNOOC Limited (10%).

In addition, the consortium also has the participation of the Brazilian state-owned company Pré-Sal Petróleo – PPSA, which operates as contract manager. Specifically for Shell, the works at the Mero field are part of Shell’s Powering Progress strategy; that pretends to increase investment at low carbon energy sources; while maximizing returns at upstream investments; such as the one in the Mero FPSO.

Finally, Petrobras has signed a letter of intent with SBM Offshore; for the chartering and provision of the FPSO that will be installed at the Mero-4 development.

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