Petrobras has awarded POSH Singapore two long-term charters for the semi-submersible accommodation vessels POSH Arcadia and POSH Xanadu for pre-salt operations

The offshore accommodation platforms will be used for maintenance and accommodation support for Petrobras platforms and floating production storage and offloading (“FPSO”) vessels in Brazilian pre-salt waters for approximately 3 years.

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Petrobras will have the option to extend the contracts for another 1,5 years for both vessels that will operate in the pre-salt layer.

This is the third contract for POS Xanadu and POSH Arcadia's first with Petrobras. The two platforms are designed for deep waters and aggressive operating environments, such as the Brazilian pre-salt. They offer accommodation for 750 people each.

Lee Keng Lin, CEO of POSH, said: “Our repeat wins with Petrobras is especially important amid such uncertain times. This differentiates and further solidifies our position within the offshore accommodation space, which remains an important part of our business.”

“These regulations will provide stability to our business for years to come as we continue to accelerate POSH's transformation to become a future-ready company providing sustainable solutions to the global energy sector.”

Petrobras drills a well and identifies hydrocarbons in the Campos Basin pre-salt layer

Well 1-BRSA-1376D-RJS (Naru) is located approximately 308 km from the city of Rio de Janeiro, in a water depth of 2.892 meters. Petrobras said on Wednesday (23) that the well verified the presence of hydrocarbons in carbonate reservoirs in the region of pre-salt.

Block CM-657 was acquired in March 2018, in the 15th bidding round of the National Petroleum, Natural Gas and Biofuels Agency (ANP), under the Concession regime. The Petrobras asset is located in the southern sector of the Campos Basin.