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Libra partners takes investment decision for Mero oil project's 3rd phase (Brazil)

Petrobras and its partners have taken the investment decisions for the third phase of the Mero project (Libra block), located deep offshore, 180 kilometres off the coast of Rio de Janeiro, in the pre-salt area of the Santos Basin (Brazil).

The Mero 3 floating production storage and offloading vessel (FPSO) will have a liquid treatment capacity of 180,000 bbl/d and should be operational by 2024. It follows investment decisions for Mero 1 (startup expected in 2021) and Mero 2 (startup expected in 2023) FPSOs, both of which have a liquid processing capacity of 180,000 bbl/d.

The Mero field has been in pre-production since 2017 starting with the 50,000 bbl/d Pioneiro de Libra FPSO. The Libra consortium is operated by Petrobras (40%) as part of an international partnership including Total (20%), Shell Brasil (20%), CNOOC (10%) and CNPC (10%). Pré-Sal Petróleo (PPSA) manages the Libra production sharing contract.