Brazilian state-controlled oil company Petrobras cancels tender for P-86 FPSO
Brazilian state-controlled oil company Petrobras has formally revoked the tender process for its planned P-86 FPSO, seen as a key component of the Marlim Sul and Marlim Leste field revitalisation program in the Campos Basin.
The tender called for the construction and operation of a unit designed to handle around 140,000 barrels of oil per day under a build-operate-transfer arrangement. The FPSO was intended to boost recovery from mature assets in one of Brazil’s most prolific offshore regions.
Petrobras opted for the decision due to “an unavoidable supervening event that altered the economic viability of the undertaking in all evaluated scenarios”. The Brazilian firm also quoted a law which allows public companies to terminate procurement processes when significant changes undermine a project’s feasibility.
The company also revealed that personnel previously assigned to the P-86 tender would be reassigned to other projects.
Petrobras also reaffirmed its commitment to the broader Campos Basin revitalisation plan, which includes deploying new FPSOs and subsea upgrades to extend the productive life of the Marlim and Voador fields.