Reviews & Ratings for the Cidade-D-Mangaratiba

In a significant development for offshore oil production, MODEC has announced that the FPSO Cidade de Mangaratiba MV24 successfully achieved first oil this October at block BM-S-11 in the Santos Basin, situated off the coast of Brazil. The floating production storage and offloading unit is now engaged in a long-term charter agreement lasting 20 years with Tupi B.V., a Dutch entity backed predominantly by Petrobras Netherlands B.V. (holding 65%), BG Group (25%), and Galp Energia E&P Brasil B.V. (10%). Anchored in deep waters approximately 2,200 meters below the surface, the FPSO Cidade de Mangaratiba MV24 boasts impressive production capabilities, generating 150,000 barrels of oil per day and 280 million standard cubic feet of gas, with a considerable storage capacity of 1.6 million barrels of oil. Owned jointly by MODEC and Schahin Group, this FPSO underwent conversion from the VLCC Sunrise J back in 2012. With this addition, MODEC has now provided a total of nine FPSOs for the Brazilian offshore sector and marks its third unit functioning in the pre-salt region, following the FPSO Cidade de Angra dos Reis MV22 and FPSO Cidade de Sao Paolo MV23. Furthermore, last week, MODEC alongside Schahin Group secured a contract with Petrobras to deliver a comparable FPSO, which is anticipated to be positioned at block BM-C-36 in Campos Basin in 2017.