Sepia

Location and Geology

The Sépia and Sépia Leste fields are situated approximately 185km and 250km, respectively, off the Rio de Janeiro coastline in Brazil. These fields lie in the pre-salt layer of the Santos Basin, specifically in Block BM-S-24.

Ownership and Operation

Block BM-S-24 is jointly owned by Petróleo Brasileiro S.A. (Petrobras) with an 80% stake and Galp Energia’s subsidiary Petrogal Brasil with a 20% stake. Petrobras operates the project.

Commercial Declaration

The Sépia oilfield was declared commercial by Petrobras in September 2014, while the Sépia Leste field was declared commercial in November 2015.

Field Characteristics

• Sépia Field: This field was initially part of the north-eastern area of the Tupi field. An early production system was installed in March 2016 to assess the reservoir behavior and test oil flow rates. The test operations using the FPSO Cidade de São Vicente yielded approximately 20,000 barrels of oil per day, with the oil having a quality of 26º API.
• Sépia Leste Field: This field is an extension of the Sépia field and features a reservoir with excellent porosity and permeability. It contains good-quality oil of approximately 26º API and is estimated to hold a total recoverable volume of 130 million barrels of oil equivalent (boe).

Joint Development

The two fields are unitised under a Production Individualization Agreement (PIA), enabling their joint development.

FPSO Carioca MV30

The project utilizes the FPSO Carioca MV30, also known as the Sepia MV30, which is deployed at the Sépia field.

• Processing Capacity: The FPSO can process 180,000 barrels of crude oil per day, 212 million cubic feet of gas per day, and 240,000 barrels of water injection per day.
• Storage Capacity: It has a storage capacity of 1.4 million barrels of crude oil.
• Power Generation: The FPSO is equipped with four SGT-A35 aero derivative gas turbine power generation systems and two SGT-A35-driven DATUM CO2 compressors for carbon dioxide re-injection.
• Mooring System: The FPSO uses a SOFEC spread mooring system designed and provided by SOFEC, Inc., a MODEC group company.

Contractors and Financing

• MODEC: Responsible for the engineering, procurement, construction, mobilization, installation, and operation of the FPSO, including its topsides, hull, and marine systems.
• Financing: The construction of the FPSO is financed by MODEC, Mitsui, Mitsui OSK Lines, the Marubeni Corporation, and Mitsui Engineering & Shipbuilding under a long-term charter business agreement for a 21-year period signed in October 2017.

Operational Details

• First Oil: The project achieved first oil in August 2021.
• Water Depth: The FPSO operates at a water depth of approximately 2,200 meters.

Current Status

The FPSO Carioca MV30 is currently in operation, with MODEC owning and operating the vessel under a 21-year charter period.