Project Overview

The P-79 FPSO is the eighth production unit deployed at the Búzios pre-salt oil field in Brazil's Santos Basin. Operated by Petrobras at the Búzios field, it has a production capacity of 180,000 barrels of oil per day and 7.2 million cubic metres per day of gas compression. 

P-79 is one of 12 units planned for installation in the Búzios field and joins seven platforms already in operation - P-74, P-75, P-76, P-77, Almirante Barroso, Almirante Tamandaré and P-78.

Its addition to the Búzios fleet raised the field's total installed oil production capacity to approximately 1.33 million barrels per day from approximately 1.15 million bpd with the prior seven-FPSO fleet. 

The P-79 was built by Hanwha Ocean at its Geoje shipyard in South Korea, which executed engineering, procurement, and construction of both the hull and the topside modules. It is the centrepiece of the Búzios 8 development project, which encompasses 14 subsea production and injection wells, 8 producers and 6 injectors, connecting to the FPSO via the subsea completion, riser, and flowline network at approximately 2,000-2,100 m water depth.

The gas compression capability of 7.2 million cubic metres per day connects to the Rota 3 gas pipeline, with the potential to increase Brazil's domestic gas supply by up to 3 million cubic metres per day. The Rota 3 pipeline is a subsea gas export system connecting the Santos Basin pre-salt fields to the Brazilian mainland, and P-79's connection to it extends the field's gas monetisation capacity alongside oil production. It is important for Brazil's domestic gas market, which has historically been dependent on imported LNG and pipeline gas. 

FPSO P79 Project Location

FPSO P-79 is located in the Búzios field, in the pre-salt layer of the Santos Basin, about 180 km off the coast of Rio de Janeiro, Brazil. It is a deepwater offshore production unit, so its project location is not on land but in the Atlantic offshore development area operated by Petrobras.

Design & Engineering Details

Project Background

The P-79 was conceived as part of Petrobras' accelerated Búzios field development programme, which targets deploying 12 FPSOs at the world's largest deepwater oil field. Following the success of the early FPSOs (P-74 to P-77 and Almirante Barroso), Petrobras moved to larger production capacities and began diversifying its FPSO EPC contractor base. Although Seatrium (formerly Sembcorp Marine) was the dominant contractor for several Búzios units, Hanwha Ocean was selected for P-79. 

The Búzios 8 development project required drilling and completing 14 subsea wells: 8 producers and 6 injectors, in approximately 2,000 m of water in the pre-salt carbonate reservoir. The 8 producer wells are connected to the FPSO via a flexible riser and flowline system; the 6 injectors enable water injection for reservoir pressure maintenance and improved oil recovery. By Q1 2026, all 14 wells had been drilled and completed, meaning the full production capacity of 180,000 bpd was available immediately upon P-79's commissioning. 

The P-78, the preceding unit, Búzios 6, achieved first oil on December 31, 2025, less than five months before P-79. The rapid sequence of P-78 (December 2025) and P-79 (May 2026) reflects the maturation of Petrobras' FPSO delivery pipeline: the company now manages simultaneous construction, commissioning, and deployment of multiple FPSO units at Búzios in a rolling production expansion that has increased the field's installed capacity from near zero in 2018 to 1.33 million bpd by mid-2026. 

In October 2025, the Búzios field surpassed the milestone of producing 1 million barrels of oil per day. The subsequent additions of P-78 (December 2025) and P-79 (May 2026) have elevated the field's installed capacity to 1.33 million bpd. 

With P-80, P-82, and P-83 all under construction and targeting 2027 start-up, Búzios' installed capacity is expected to approach 2 million bpd by late 2027 — transforming it into one of the three or four largest single oil fields by production in the world. 

Stakeholder Details

FPSO P79 Completion Date

FPSO P79 achieved first oil on May 1, 2026, ahead of the date scheduled in Petrobras' 2026–2030 Business Plan. The project was targeted for completion in August 2026. It completed its maiden oil offloading on May 30, 2026, marking the start of revenue generation from the unit.

FPSO P79 Project Cost

The FPSO P-79 project has an estimated contract value of USD 2.3 billion, covering engineering, procurement, fabrication, integration, mooring installation, hookup, commissioning, and inauguration work. It was under Petrobras’ contract with the Saipem-DSME joint venture. Saipem’s reported share of that contract was about USD 1.3 billion. The Hanwha Ocean was selected as the shipyard/EPC builder for the hull and topsides. 

Project Timeline

Buzios FPSO Fleet

Conclusion

The FPSO P-79 plays a key role in Petrobras’ Búzios development, strengthening offshore production capacity in Brazil’s pre-salt Santos Basin. Its early launch in 2026 reflects the project’s successful execution and its role in boosting domestic oil and gas output, supporting both energy security and longer-term field growth.

By bringing new processing, storage, and export capacity into the pre-salt Santos Basin, the project strengthens output from one of the country’s most important producing areas and supports a steadier domestic supply of oil and associated gas. 

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