SBM Offshore announces that FPSO Sepetiba is formally on hire as of January 2, 2024, after achieving first oil and the completion of a 72-hour continuous production test leading to Final Acceptance.

FPSO Sepetiba is owned and operated by special purpose companies owned by affiliated companies of SBM Offshore (64.5%) and its partners (35.5%). The FPSO will operate under 22.5-year charter and operation services contracts with Petróleo Brasileiro S.A. (Petrobras).

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.