Petrobras informs that it signed today a Letter of Intent with Yinson Production PTE Ltd. for the chartering and provision of FPSO services for the Parque das Baleias Integrated Project, to be installed in the Jubarte Field, located in the northern part of the Campos Basin.

The FPSO, which stands for floating production, storage and oil transfer unit, is scheduled to start production in the last quarter of 2024 and will be the new unit of the definitive system to be installed in the Jubarte field. The unit will have the capacity to process 100,000 barrels of oil and 5 million cubic meters of gas per day.

The charter and service contracts will have a duration of 22 years and 6 months, counted from the final acceptance of the unit.

The project foresees the interconnection of 17 wells to the FPSO, nine of them oil producers and eight water injectors, through a subsea infrastructure composed of flexible pipelines, electro-hydraulic umbilicals, and wet Christmas trees.

About the Parque das Baleias Integrated Project

The Parque das Baleias area is formed by the Jubarte, Baleia Anã, Cachalote, Caxaréu, Pirambú and Mangangá fields. The first field, Jubarte, was discovered in 2001. In 2019, Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) entered into an agreement on the extension of the concession term until 2056 of the new unified Jubarte field, which makes it feasible to implement the new production system of the Parque das Baleias Integrated Project, in addition to complementary projects in the area. Currently, four platforms are in operation: P-57, P-58, FPSO Cidade de Anchieta, and FPSO Capixaba, the latter scheduled to be in operation only until 2022.

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.