Altera&Ocyan Signs Contract With 3R Petroleum for Operation and Maintenance of FPSO Platforms in the Campos Basin

For The First Time In Its Business Portfolio, Altera&Ocyan Will Operate FPSO Platforms From Other Companies After The Contract Signed With 3R Petroleum For The Acquisition Of Services In The Fields Of The Campos Basin.

Altera&Ocyan, a joint venture between Ocyan and Altera Infrastructure, announced a new venture this past Monday (06/13) in partnership with 3R Petroleum. The agreement between the companies stipulates that the joint venture operate and perform maintenance services on the FPSO platforms P-61 and P-63 of the oil company, located in the Papa-Terra field, in the southern Campos Basin, in the state of Rio de Janeiro.

FPSO Platforms P-61 and P-63 of 3R Petroleum Now To Be Operated By Altera&Ocyan After Contract Signed Between the Oil and Gas Companies

The company Altera&Ocyan now enters a new market in the oil and gas sector in Brazil and has signed its first contract to operate FPSO platforms from other companies. These are the platforms P-61 and P-63 from 3R Petroleum, which are located to the south of the Campos Basin and will now be operated by the joint venture, in addition to performing maintenance services in oil and natural gas production on the structures.

The contract signed between the companies has an initial term of 5 years but may be extended by up to 5 future years, with renewals of 1 year after the completion of the previous period.

This is the first time that Altera&Ocyan will operate FPSO platforms from other companies, and the joint venture noted that there are now new growth opportunities in the Brazilian market, given that the structures of 3R Petroleum have a great potential for daily production and are references in Brazil.

Thus, Marcelo Nunes, General Director of Altera&Ocyan, highlighted the importance of the contract with 3R Petroleum and the operation in the Campos Basin over the next few years: “The project will ensure an increase in the level of activity for Altera&Ocyan in Brazil and will enhance the synergy of resources of the joint venture, bringing benefits to our new client and to our own operational units, the FPSO Cidade de Itajaí and FPSO Pioneiro de Libra. It will be a great growth opportunity for our team and our company.”

Joint Venture Now Diversifies Its Portfolio and Takes Advantage of The Oil and Gas Production Potential of The FPSO Platforms of 3R Petroleum In The Campos Basin

The ventures of 3R Petroleum in the Campos Basin hold significant relevance in the national oil and gas scenario. This is because the FPSO P-63 has an installed capacity to process up to 140,000 barrels/day of oil and 1 million m³ of natural gas.

Meanwhile, the P-61, the only Tension Leg Wellhead Platform (TLWP) of its kind installed in the country, began production two years ago in 2015 and has dry completion wells, meaning the control valves for the well are located on the platform, ensuring greater production efficiency.

In addition, both are connected, as the energy for the FPSO P-63 is supplied to the P-61, while the latter transfers the oil and gas produced for final processing at the P-63. This way, the platforms become some of the largest ventures of 3R Petroleum in Brazilian territory, and now Altera&Ocyan can leverage this relevance in its new operation.

Although well underway between the companies, the new contract is still subject to approval by the Administrative Council for Economic Defense — CADE, for the expansion of the joint venture between Ocyan and Altera. Thus, the joint venture and the oil company await new resolutions to continue the partnership.