Petrobras announces that, on behalf of the Tupi field consortium, the company has signed amendments to the Charter and Service Agreements for the FPSO Cidade de Angra dos Reis (located in the Tupi field) with Tupi Pilot MV 22 B.V. and Modec Serviços de Petróleo do Brasil Ltda. (Modec), extending the charter period of the unit by an additional five years, until 2030.
In addition to extending the contractual term, the amendments aim to enable upgrades to the FPSO, which currently has a production potential exceeding 50,000 barrels per day (bpd). The planned improvements are intended to enhance production reliability and efficiency, maintain platform integrity, operational safety, and reduce greenhouse gas emissions. The consortium plans to decommission the unit in 2030.
In operation in the Tupi field since October 2010, the FPSO Cidade de Angra dos Reis was the first high-capacity FPSO to operate in the pre-salt layer of the Santos Basin, cementing its importance in the history of offshore exploration in Brazil.
The execution of these amendments aligns with the company’s 2025-2029 Business Plan and reinforces Petrobras and its partners' commitment to the continuity and expansion of their operations in the Tupi field.
The Tupi consortium comprises Petrobras (67.216%), Shell (23.024%), Petrogal (9.209%), and PPSA (0.551%).
About Petrobras
Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.
We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.
Based on this discovery, with a substantial volumetric potential for natural gas, the social/environmental and licensing procedures required to carry the gas to consumer centers will begin.
Petrobras reaffirms its commitment to conducting operations in Colombia, working safely, respecting life, people, and the environment, and acknowledging the importance of talks with the local communities and compliance with the country's legal requirements.
About MODEC
MODEC is a leading provider of floating production solutions such as Floating Production Storage and Offloading (FPSO) vessels to the offshore oil & gas industry. MODEC performs Engineering, Procurement, Construction and Installation (EPCI) activities for FPSOs, and further by owning and operating its own FPSOs, it provides oil companies around the world with comprehensive and competitive solutions for oil & gas.