Chinese Firm Takes Minority Share from SBM Offshore in Mero Field FPSO

FPSO Sepetiba (Credit: Petrobras)

SBM Offshore has completed the divestment of a 13.5% ownership interest in FPSO Sepetiba, deployed at Petrobras’ Mero field offshore Brazil, to China Merchants Financial Leasing (Hong Kong) Holding Co (CMFL).

SBM Offshore is operator of the FPSO and will remain the majority shareholder with 51% ownership interest.

FPSO Sepetiba is installed at the Mero unitized field located in the Santos Basin, approximately 180 kilometers offshore Rio de Janeiro in Brazil. It started production in late 2023.

The FPSO has the capacity to produce up to 180,000 barrels of oil per day and a daily 12 million cubic meters of gas. It has storage capacity of 1,400,000 barrels of oil.

The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo S.A. (PPSA) (3.5%), representing the government in the non-contracted area.