The FPSO Pioneiro de Libra (Libra Pioneer) produced yesterday (11/26) the first oil in Libra, the largest oil reserves ever discovered in Brazil. The vessel is owned by the 50/50 joint venture formed by Odebrecht Oil and Gas (OOG) and Teekay Offshore Partners L.P. (Teekay Offshore).

The Libra Block is located in ultra-deep waters in the Santos Basin, about 170 kilometers off the coast of Rio de Janeiro.

The joint venture will own and operate the FPSO, which has been chartered to and will conduct Early Well Tests in the Libra Block for the consortium formed by Petrobras (Operator, with 40% ownership), Total (20%), Shell (20%), CNPC (10%) and CNOOC (10%), which is managed by Pré-Sal Petróleo S.A. (PPSA), for a period of 12 years.

The unit can operate at water depths of up to 2,400 meters, with a production capacity of 50,000 barrels of oil per day and daily compression capacity of four million cubic meters of gas. OOGTK will have approximately 70 workers on board.

"This is a historic moment for the country and for Odebrecht Oil and Gas, that delivered this FPSO, built in partnership with Teekay, in a period aligned with a world market benchmark and with the highest quality. Thus, OOG consolidates itself as a solid service provider based on excellence, financial rigidity, strong capital structure and high technical quality," says Jorge Mitidieri, Odebrecht Oil & Gas's Superintendent of Integrated Services.

Since the christening of the FPSO in December 2016, carried out at the Jurong shipyard in Singapore, where it was built, the vessel has undergone commissioning and sea tests. During this period, more than 1,000 activities were carried out, including inclination and propulsion tests, in addition to other process systems.

Contracts for charter and operation of the FPSO Pioneiro de Libra were signed in October 2014 between OOGTK and Petrobras. In the following year, the joint venture signed the financing contract for the FPSO’s construction with a group of international banks.

FPSO Pioneiro de Libra Data Sheet

An FPSO (Floating Production Storage and Offloading) is a type of ship used by the oil & gas industry to produce and store oil and/or natural gas and offload the product to shuttle tankers. These ships are common in production areas far from the coast that are hard to reach with oil or gas pipelines.

Operation: 12 years for Long-Duration Tests in the Libra Block 

Investment: Approximately U$1 billion 

Operating Location: Santos Basin 

Production Capacity: 50,000 barrels of oil/day and compression of 4,000,000 Sm3/day of associated gas 

Operational Depth: Up to 2,400 meters

About Teekay Offshore Partners L.P.

Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.7 billion, comprised of 62 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts. Teekay Offshore’s common units trade on the New York Stock Exchange under the symbol “TOO”.

About Odebrecht Oil & Gas

The Odebrecht Group has provided services to the Brazilian oil industry since 1953. In 1979, it began operations in offshore drilling, becoming the first private Brazilian company to provide this type of service in Brazil. In the 1990s, it expanded its operations overseas, including the North Sea, focusing on services and FPSO operation. In 2006, it concentrated its oil and gas investments into a new company, Odebrecht Oil & Gas. A Brazilian company operating both nationally and internationally, Odebrecht Oil & Gas is capable of providing integrated solutions for the upstream oil and gas industry, from investment to operations, in the segments of Offshore Drilling, Submarine Construction, Offshore Production and Offshore Maintenance and Services. Its guiding value is the safety of its team members and operations, in addition to the use of technological innovations and a commitment to environmental preservation and operational excellence.