Altera&Ocyan joint venture wins a new client

On November 6, the Altera&Ocyan joint venture expanded its client portfolio with the signature of a charter and operation contract of the FPSO Cidade de Itajaí (CDI) with Karoon Energy Ltda (company listed on the Australian Stock Exchange), which is the new holder of the BM-S-40 shallow water block concession, where the Baúna field is located, in the southeast of Santos Basin. The JV has been operating the CDI in the Baúna field since 2013 for Petrobras.

The change in clients is due to the acquisition of the block by Karoon, which has also extended the contract with Altera&Ocyan for another four years, which guarantees the operation of the CDI in Baúna until February 2026, with an additional contract renewal option for up to two more years, i.e. until 2028.

“We are excited about having Karoon as a new client, and about the extension of the contract with Petrobras, which would expire in February 2022. The renewal ratifies that Altera&Ocyan has been presenting high operational and safety performance, which adds important market value to both our JV and to the new field operator,” celebrates Jorge Mitidieri, vice president of Integrated Services at Ocyan.

The FPSO Cidade de Itajaí reached the mark of more than 109 million barrels of oil produced with an average operating uptime of 99.7%, from the start of operations in 2013 until now. Operated by the Altera&Ocyan joint venture (50/50 partnership between Ocyan and Altera Infrastructure), the FPSO has safety and performance indicators that reinforce the success of the operation.

During the pandemic, the FPSO did not present any cases of COVID 19 on board, the result of a rigorous prevention process and health protocols, which has guaranteed the maintenance of full activity during the last few months. In addition, we have recorded more than 930 days without any lost time accidents.

“We are pleased to announce this important multi-year contract with Karoon and we are committed to working together to maximize future production in the Baúna field with the CDI, said Chris Brett, President of Altera Production.

“Karoon is very happy to be joining Altera&Ocyan in the Baúna field. The operational performance and the company’s safety record onboard the CDI has been excellent and Karoon hopes to create a constructive relationship from now on.” said Robert Hosking, Karoon Executive Director.

Altera&Ocyan has two assets: in addition to the FPSO Cidade de Itajaí (CDI), it also operates the Pioneiro de Libra (PDL), both with stable long-term and consolidated contracts.

Cidade de Itajaí

Cidade de Itajai is the first production unit operated by the Altera&Ocyan joint venture. Built by the Sembmarine shipyard in Singapore, the FPSO arrived in Brazil on December 29, 2012, starting operations on February 16, 2013.

The asset is capable of operating in water depths of up to 1,000 meters, with the capacity to produce 80,000 barrels of oil per day and compress and inject two million cubic meters of gas per day.

The CDI is also woman-led: Mechanical Engineer Nathalia Souza Teixeira, 31, who has been in charge of the vessel’s activities since November 2018. The team is composed of approximately 60 members on board and 25 onshore, in addition to the team shared between the two Units under the JV’s operation (the other FPSO unit, Pioneiro de Libra). Nathalia has a degree from the Universidade Federal de Minas Gerais, and started her career at Ocyan in 2014.