Qatar Energy Declared Final Investment Decision for Phase-2 of Sepia Field Development

SEATTLE (Oil Monster): Qatar Energy, along with its partners, has declared final investment decision (FID) for the second phase of development in Brazil’s the Sepia field situated in the pre-salt Santos Basin. The joint venture partners include TotalEnergies, Petronas, Petrogal Brazil, and Petrobras, in addition to Qatar Energy.

The FID comprises of an agreement Seatrium O&G Americas Ltd. towards constructing a floating production storage and offloading (FPSO), which will operate in the ultra-deep waters of the Sepia field. 

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The FPSO will have a processing capacity of approximately ten million cubic meters of gas per day and a production capacity of nearly 225,000 barrels of oil per day. It will be constructed in shipyards located in Brazil, China, and Singapore. This will be the second FPSO to be deployed in the Sepia field.

The FID is considered as a significant milestone in Qatar Energy’s oil field development activities in Brazil. The award of the contract was welcomed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy.

The FPSO is expected to deliver 30% reduction in greenhouse gas emission intensity per barrel of oil equivalent, by way of integration of various state-of-the-art environmental technologies.