Petrobras has produced first oil from the floating production, storage, and offloading (FPSO) vessel Cidade de Saquarema in the Lula field of Block BM-S-11 in the pre-salt province of the Santos Basin. The company is the block’s operator with a 65% interest, with the remaining stakes held by Shell (25%) and Galp Energia (10%). The FPSO vessel is owned and operated by a joint venture headed by SBM Offshore.
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