BG Group launches sixth FPSO in Brazil

The Cidade de Itaguaí can store 1.6 million barrels of oil.
The Cidade de Itaguaí can store 1.6 million barrels of oil. | BG Group
BG Group's floating, production, storage and offloading (FPSO) vessel  Cidade de Itaguai recently began producing oil in the Santos Basin off the shore of Brazil.

Based 149 miles off the shore of Rio de Janeiro, the Cidade de Itaguai is the British exploration and liquefied natural gas (LNG) company's sixth unit in production in the basin.

It will produce in the Iracema North area, which is near the Lula field in the Petrobras-operated BM-S-11 block. 

The Cidade de Itaguai is the second FPSO leased and deployed within the Iracema development. It is expected to double BG Group's gross production capacity, bringing it to 300,000 barrels of oil each day.

The vessel has the capacity to store approximately 1.6 million barrels of oil and can process 150,000 barrels each day.

BG Group has a 25 percent interest in Block BM-S-11, as well as 30 percent interest in Block BM-S-9.

The company's diverse portfolio focuses on gas and oil exploration and production as well as LNG. The company is active in more than  20 countries on five continents. 

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