Reviews & Ratings for the Cidade-De-Ilhabela

A new chapter in Brazil's oil industry is set to begin as the FPSO Cidade de Ilhabela departs from Rio de Janeiro, heading towards the Sapinhoa offshore field, part of the BM-S-9 block, which is a collaboration between Petrobras, the UK's BG Group plc, and a joint venture involving Spain's Repsol SA and China's Sinopec. Petrobras announced on Wednesday that operations are anticipated to commence by the end of this year, although the project is over a year behind schedule. This floating production, storage and offloading unit (FPSO) is pivotal for Petroleo Brasileiro SA, commonly known as Petrobras, as the company aims to rejuvenate production and revenue following five stagnant years. The FPSO is being leased from SBM Offshore NV, based in the Netherlands, and Brazil's Queiroz Galvao Oil and Gas. However, the future of SBM Offshore in Brazil remains uncertain as the company faces scrutiny amid investigations in several countries. Allegations, stemming from a former employee's claims in February, suggest that SBM paid US$250 million in bribes, with US$139 million potentially linked to Brazil, leading to increased attention on its operations. This ambitious project arrives at a critical juncture for Brazil's oil sector, aiming to turn the tide on production levels.

On April 24, 2015, the FPSO Cidade de Ilhabela departed from the Brasa shipyard located in Niteroi-Rio, embarking on its journey to block BM-S-9 at the Sapinhoá Field, situated offshore Brazil. This voyage is set to fulfill a significant 20-year contract with Petrobras, which holds a 45% stake, alongside BG E&P with 30%, and YPF Repsol claiming the remaining 25%. The FPSO is a joint venture, owned and operated by SBM Offshore N.V., Queiroz Galvão Óleo e Gás S.A. (QGOG), and Mitsubishi Corporation. Since January, the FPSO has undergone extensive integration of its hull and topsides at Brasa, utilizing the services of the shipyard’s heavy lift crane barge, recognized as the largest in Latin America. Notably, Brasa's contributions included the fabrication of 10 out of the FPSO's 18 modules, which collectively weighed around 12,500 tons. The successful completion of this project marks a significant milestone for Brasa, which has been operational since July 2012.

The FPSO Cidade de Ilhabela, a state-of-the-art floating production, storage, and offloading vessel, has docked at Brasa shipyard in Niterói, Rio de Janeiro, for significant upgrades. This vessel, set to operate in the promising Sapinhoá field located in the Santos Basin, is currently undergoing the lifting and integration of thirteen processing modules. Originally converted from an oil tanker at the CXG shipyard in China, this upgrade is a collaborative effort between Petrobras, SBM Offshore, and the Synergy Group, with Brasa shipyard taking the lead in constructing thirteen out of the eighteen modules required for the FPSO’s processing plant. With the capability to store an impressive 1.6 million barrels of oil, the FPSO Cidade de Ilhabela is anticipated to commence operations in the latter half of 2014. Positioned in depths of 2,140 meters, the platform is engineered to process up to 150,000 barrels of oil per day and handle a gas compression of 6 million cubic meters. The FPSO touched Brazilian shores on December 29 and has been at the Brasa shipyard since January 12.