The Merchant Marine Fund (FMM) Board of Directors approved the contribution of BRL 8.56 billion for the construction of two FPSOs: Sergipe Águas Profundas (SEAP) I and Sergipe Águas Profundas II (SEAP II). Both basins are located in the Sergipe-Alagoas Basin (SEAL), approximately 100 km from the coast.
Last month, we published that Petrobras was facing a hard market to lease FPSOs for SEAL, in view of the increasing costs and the specificities of the GTD for both projects SEAP I and SEAP II.
Carlos Travassos, Executive Director of Engineering, Technology and Innovation declared two weeks ago that Petrobras has more control over operations with their owned units, but on the other hand, the process is lengthier. Travassos commented on aspects to increase the viability of projects such as the access to the Merchant Marine Fund (FMM), in addition to conversations with private and foreign financial institutions.
“If we are not successful, we will move on to our own units, operated by Petrobras. The tendency is for an own unit to take more time than a chartered one. There are other challenges, but we would have much more around the process”, said Travassos in a talk with journalists.
SEAP project should have the capacity to process 120,000 boed each.
Launched in April 2023, with proposals initially scheduled to be delivered in October, the tender was already postponed three times.
