Global and Regional MarketsNewsThe Offshore Frontier

BG Group starts production from sixth FPSO in Santos Basin

BG Group recently announced first oil from the Cidade de Itaguaí FPSO vessel – the sixth unit to start production across BG Group’s discoveries in the Santos Basin offshore Brazil. The FPSO will produce from the Iracema North area of the Lula field in the BM-S-11 block, operated by Petrobras.

Anchored 240 km off the coast of Rio de Janeiro, the Cidade de Itaguaí is approximately 2,220 m above the ocean floor. This is the second leased FPSO deployed on the Iracema development and will double the gross production capacity to 300,000 BPD and 16 million cu m of natural gas/day from the area. The FPSO will also be able to store 1.6 million bbl of oil.

BG Group has a 25% interest in Block BM-S-11 (Petrobras, operator, 65% and Petrogal Brasil, 10%). BG Group also has a 30% interest in Block BM-S-9 (Petrobras, operator, 45% and Repsol Sinopec Brasil, 25%).

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