FPSO Cidade de Itajaí Marks Nine Years of Operation and Reaches 1 Million Cubic Meters of Oil Produced in the Santos Basin Since Charter Contracts with Australian Karoon

The Brand Acquired Since the Signing of the Contract with Karoon Reinforces the Success History of Altera&Ocyan, Owner of the Asset

Multinational oil and gas company Ocyan reported, in a relevant market announcement this morning (21/02), that the FPSO Cidade de Itajaí, which completes nine years of operation in February, reached the mark of 1 million m³ of oil produced in the Baúna Field, in the Santos Basin, since the signing of the service and charter contracts with Australian Karoon in November 2020.

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The platform is operated by the joint venture Altera&Ocyan (a partnership between Ocyan and Altera Infrastructure) and presents performance indicators that reinforce its success.

The CDI Oil Platform Stands Out for Exceptional Operational Performance Since the Start of Operations in 2013.

“Reaching this production is a great pride for us, but more important than that is that we have done it with a focus on safety, asset maintenance, and meeting the expectations of our new client. The FPSO Cidade de Itajaí is an important part of our history, not only for its performance and achievements over these nine years but for being the first vessel operated by Altera&Ocyan,” highlights Bárbara Figueira, Operations Engineer of Cidade de Itajaí.

“Operating a mature field presents significant challenges. With a strong focus on maintenance and asset integrity, Karoon, in these first 15 months of operation, prioritized safety in operations and process plant integrity in partnership with A&O. The coming months will mark important milestones for the project, with a significant increase in production due to the well intervention campaign and the interconnection of the Patola accumulation,” evaluates Silvia Latorre, Operations Manager of Karoon.

“The FPSO stands out for exceptional operational uptime (efficiency rate) since the start of operations in 2013. In the last semester, for example, the asset showed an operational uptime of 99%,” recalls Thiago Rinaldi, Operations Manager of Cidade de Itajaí.

FPSO Cidade de Itajaí Was Built at the Jurong Shipyard in Singapore and Arrived in Brazil on December 29, 2012

Built at the Jurong shipyard in Singapore, the FPSO Cidade de Itajaí arrived in Brazil on December 29, 2012, and began operations on February 16, 2013. Since then, it has produced more than 18 million m³ of oil, equivalent to about 116 million barrels.

The vessel is capable of operating in water depths of up to 1,000 meters, has a production capacity of 80 thousand barrels of oil per day, and can compress 2 million cubic meters of gas per day.

Currently, it has a total of 105 offshore crew members, including Brazilians and expatriates, with a POB of approximately 70 people.

The Cidade de Itajaí is the first production unit operated by Altera&Ocyan, which also includes the FPSO Pioneiro de Libra, leased in the Mero Field and operated by Petrobras in the Libra Block, the largest pre-salt reserve in Brazil.

The FPSO Cidade de Itajaí has a firm contract until 2026. Considering the investments being made by Karoon, with the goal of increasing production, A&O already envisions the possibility of extending the partnership until 2027.