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).

"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.

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

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.

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.