BG Group Brings Brazilian FPSO On Stream

Published at 11:37AM - 03/08/15

UK based BG Group has brought its latest offshore development on stream, an FPSO, the Cidade de Itaguaí.

The Cidade de Itaguaí floating, production, storage and offloading (FPSO), is located offshore Brazil, around 150 miles (240km) off the Rio de Janeiro coast.

The first oil from the FPSO is BG Group’s sixth major development to start production in the Brazilian Santos Basin alone.

The Cidade de Itaguaí FPSO, is a leased vessel, and the second to be utilised by BG group in the same Iracema North area, an area operated by Brazilian national Petrobras.

The development is expected to have a production capacity of 300 thousand barrels of oil equivalent a day and over 16 million cubic meters of natural gas.

The Cidade de Itaguaí FPSO also has storage for 1.6 million barrels of oil.

Royal Dutch Shell is currently in the process of buying BG Group out.  The acquisition has already passed regularity bodies in Brazil.  If the deal passes the remaining government scrutiny in Europe and Australia, then assets owned by BG in offshore Brazil will be transferred to Shell.

The offshore development of block BM-S-11, is a joint venture between BG Group 25%; Petróleo Brasileiro S.A (operator) 65% and Petrogal Brasil 10%.