Brazil based oil and gas company ‘PetroRio’ has signed a deal for the acquisition of the OSX-3 FPSO for U$ 140 million and 80 % in the Tubarão Martelo field (TBMT) to farm in off Brazil
PetroRio said that, these acquisitions will allow the tieback between the Polvo and TBMT fields, simplifying the production system and creating a private cluster in the region, enabling significant synergies, reductions in lifting cost and the extension of the economic life of the fields.
After the tieback of offshore assets, the Company estimates that the combined OPEX of both fields will be reduced to less than U$ 80 million per year, which currently exceed U$ 200 million per year (U$ 100 million of Octopus + U$ 100 million of TBMT).
Moreover, the lifting cost could possibly be reduced to less than U$ 16 per barrel, as a result of synergies air, sea and land and the decommissioning of the BW FPSO currently chartered to Polvo. BW FPSO Polvo signed a one-year extension last month.
Additionally, the reduction in the absolute costs of the new pole will allow more oil to be recovered in the reservoirs, for a longer period.
PetroRio estimates that the economic life of both assets may be extended until approximately 2035, representing an extension of more than 10 years and an increase of 40 million barrels in front of the current reserve of Campo de Polvo.
OSX-3 Floating, Production, Storage and Offloading (FPSO) was built and delivered to the TBMT field in 2012. The vessel has the capacity to processing 100 thousand barrels of oil per day and storing 1.3 million barrels.