FPSO Sevan Piranema, Petrobras Celebrate 1 Year Anniversary

Sevan Marine ASA

The FPSO Sevan Piranema has been producing oil for Petrobras for its first full year. The unit is located on the Petrobras operated Piranema field, off the coast of Aracaju, in the state of Sergipe, Brazil.

During the first year of operation, the FPSO Sevan Piranema has produced 2,9 Million barrels of oil, exported 14 shuttle tanker cargos. The production uptime during this full year has been 97,5% and over 99% since the start of 2008.

The Sevan Piranema is working under an 11+11 year charter contract with Petrobras S.A., in ultra-deepwater, ranging from 1,000 to 1,600 m. The FPSO has a nominal oil storage capacity of 300,000 barrels and is equipped with an oil process capacity of 30,000 barrels per day and a gas compression capacity of 3.6 million m3 per day.

The Sevan Piranema is the world's first cylinder shaped FPSO and is based on Sevan's unique and patented technology. It is also the first floating production unit to operate in this area of Brazil.

"The cylindrical Sevan FPSO is designed to provide improved motions, higher stability reserves and higher deck load capacity than conventional units. The high uptime from the first year of operation of the FPSO Sevan Piranema confirms these capabilities," said Jan Erik Tveteraas, CEO of Sevan Marine ASA.