Project Overview

The P82 FPSO is a new-generation ultra-deepwater floating production, storage and offloading (FPSO) vessel under construction in the Santos Basin, Brazil. It is classified as Búzios 10 in Petrobras' production fleet. 

The P82 will have a production capacity of 225,000 barrels of oil per day, gas processing capacity of 12 million cubic metres per day, oil storage of more than 1.6 million barrels, and water injection of 250,000 barrels per day. 

The Engineering, Procurement and Construction (EPC) Contract was awarded to Seatrium (formerly Sembcorp Marine) on 5 October 2022 at a contract value of USD 3.05 billion. The P82 is the tenth FPSO to be deployed at Búzios, the world's largest deepwater oil field by recoverable reserves, and Petrobras' most important single asset. The P82's commissioning will add the field's largest productive unit to date.

Petrobras describes P82 as part of its 'new generation of production facilities, characterised by their high production capacity and by technologies to reduce CO2 emissions.' The company's Q4 2025 report specifically cites P82 (alongside P-80 and P-83) as a source of 'lessons learned' across engineering, procurement, fabrication, and commissioning that are being applied to improve execution of the subsequent P-84 (Atapu 2) and P-85 (Sépia 2) units, confirming that P82 is functioning as a reference design for Petrobras' next generation of high-capacity FPSOs. 

P82 FPSO Location

The P82 FPSO is a deepwater offshore unit installed at one of Brazil’s largest oil fields. It is located in the Búzios field in the Santos Basin pre-salt area, about 180 km off the coast of Rio de Janeiro, Brazil. 

Project Background

The Búzios oil field was discovered by Petrobras in 2010, with exploratory drilling confirming a giant pre-salt accumulation of light oil in the Santos Basin. Production began at Búzios in 2018 with the first FPSO (P-74) and has scaled progressively as additional FPSOs have been added. 

By Q4 2025, six FPSOs were operating at the field with a combined installed capacity of 975,000 barrels per day. Petrobras's strategic objective is to reach more than 2 million barrels per day of installed capacity at Búzios by 2027. It requires deploying all FPSOs currently in execution: P-79, P-80, P82, P-83, and others. 

The P82 contract was awarded in October 2022 to Sembcorp Marine's Rigs and Floaters division. In April 2023, Sembcorp Marine merged with Keppel Offshore and Marine to form Seatrium Limited, a combined Singapore-headquartered offshore and marine engineering group. The P82 contract passed to Seatrium as part of this transaction, and Seatrium has continued construction at its Singapore yards and Brazilian facilities. 

Stakeholder Details

P82 FPSO Project Current Status

P82 FPSO is currently under construction and in the pre-operational phase for Petrobras’ Búzios field offshore Brazil. Recently, it received an installation license. Major hull/bow fabrication activity is also documented at ZPMC Qidong Marine Engineering in Qidong, China, and other construction work has been reported in Yangzhou, China. Overall, start-up is expected in 2026.  

P82 FPSO Project Cost

The P82 FPSO project has a reported EPC contract value of USD 3.05 billion (about SGD 4.25 billion). The total investment in P82 across all stakeholders, covering the FPSO construction contract, subsea infrastructure, drilling and completion of production and injection wells, moorings, risers, and associated systems, amounts to USD 7.2 billion in total project investment. Petrobras holds an 88.99 percent stake in the Búzios field, with Chinese partners CNODC (3.67%) and CNOOC (7.34%) holding the balance. 

Project Timeline

Design & Engineering Details

Conclusion

P82 FPSO remains significant as one of Petrobras’ largest FPSOs, designed for very high production capacity and for use in the deepwater pre-salt province offshore Brazil. Recently, the installation license has been granted, marking it as a regulatory milestone before the unit can be placed in the field and commissioned.

The unit was scheduled for delivery and commercial operation in 2026, with the project moving through construction, licensing, and preparation for offshore installation. P82 is not a standalone asset but part of the broader expansion of Búzios, which is being developed as one of the largest deepwater oil hubs in the world. Its planned capacity of 225,000 barrels of oil per day, along with major gas processing and storage capability, makes it a strategic addition to Petrobras’ production system.

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