Perenco Brasil has completed the connection of the floating storage and offloading (FSO) vessel FSO Pargo to the Pargo cluster in the Campos Basin, offshore Brazil.
The company said it will now submit final documents to Brazilian regulatory authorities, with a view to obtaining its operating license for the FSO.
The connection included the connection of nine mooring lines and the new production line from the Pargo platform, all connected to the new turret, which was integrated in Dubai as a key part of the FSO conversion, according to the company statement. This is another important step in Perenco Brasil’s ongoing $400 million Snapper Development Plan and paves the way for continued production growth, the statement added.
Confirmation of the connection follows the vessel’s arrival in Brazil in March, following its full FSO conversion to Brazilian regulatory standards in Dubai, as well as the simultaneous installation of the FSO mooring system, which was completed in late of 2022. FSO Pargo is a double hull vessel built in 2004, which has a storage capacity of 750,000 barrels.
To recall, the ship left Dubai in January this year, following the completion of conversion work that began in September 2021 at DryDocks World, Dubai, to extend her service life by 20 years.
“The connection of FSO Pargo is another historic moment in the ongoing development of the Pargo Cluster. It follows the safe arrival of the vessel in Brazilian waters after its full conversion to the FSO regulatory specification. The Pargo Development Plan is an important project and we are proud to partner with Brazil to bring our technical expertise and innovative approach to maximizing the life of this key acreage. We look forward to providing further updates on our progress over the coming weeks, including our increase production constant,” said Yves Postec, CEO of Perenco Brasil.
Perenco Brasil has a 100% interest in the Pargo cluster concession, which comprises the Pargo, Carapeba and Vermelho fields located offshore in the shallow waters of the Campos Basin, off the coast of Rio de Janeiro.
The company recalled in its statement that the concession area has eight fixed platforms up to 100 meters (330 feet) deep. Production reached 13,000 barrels of oil per day by 2023, up from 2,800 barrels when Perenco took over operations in October 2019. The Pargo Cluster Development Plan was formally approved by Brazilian authorities in early 2021, along with the extension of Perenco’s rights to the concessions until 2040.
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