SBM Offshore is pleased to announce FPSO Cidade de Ilhabela is formally on hire after achieving first oil and completing a 72 hour continuous production test leading to Production Acceptance Notice (PAN). The FPSO will operate under a twenty year charter and operate contract with Petrobras S.A. on the Sapinhoá field development in the Brazilian pre-salt.

The unit is owned and operated by a Joint Venture formed by SBM Offshore (62.25% ownership stake) and its partners.