The state-owned Brazilian oil and gas company Petrobras $PETR3 (+1,08 %)
$PETR4 (+1,29 %) has extended the contract for a floating production, storage and offloading vessel (FPSO) in the Santos Basin off the Brazilian coast.

The Japanese company MODEC $6269 has converted the VLCC M/V Sunrise IV into an FPSO named Cidade de Angra dos Reis. It can process up to 100,000 barrels of oil per day and 5 million m3 of gas, is designed for the removal of H2S and CO2 and is capable of injecting CO2 into the well at a pressure of 550 bar, as well as exporting the sales gas onshore.

On behalf of the Tupi field consortium, consisting of Petrobras (67.216%, operator), Shell (23.024%), Petrogal (9.209%), and PPSA (0.551%), Petrobras has now signed with Tupi Pilot MV 22 and MODEC Serviços de Petróleo do Brasil amendments to the charter and service agreements for the FPSO anchored in 2,149 meters of water depth, extending the charter period of the unit for another five years until 2030.