The Libra consortium launches production at Mero-4 with a China-integrated FPSO

Production at the Mero-4 field began on May 24 using a 180,000 barrels/day FPSO, the result of international cooperation among six partners operating offshore Brazil.

Share:

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

The international Libra consortium has started production at the Mero-4 oil field, located in the Santos pre-salt basin off the coast of Brazil. The announcement was made on May 26 by several members of the group, confirming the start-up of the FPSO (floating production, storage and offloading unit) Alexandre de Gusmão on May 24.

The infrastructure, positioned approximately 180 kilometres from Rio de Janeiro, operates at water depths ranging from 1,800 to 2,100 metres. The Mero-4 development includes 12 subsea wells — five oil producers, six alternating water/gas injectors, and one convertible well — all equipped with intelligent completion systems that enable remote switching between injection and production modes from the platform.

Floating unit designed for high volumes

The Alexandre de Gusmão FPSO, among the largest in the world by tonnage, was integrated in China in December 2024 before arriving on site in March 2025. It is rated for a daily processing capacity of 180,000 barrels of crude oil, compression of 12 million cubic metres of natural gas, and injection of 250,000 cubic metres of water. This brings the total installed production capacity at the Mero field to 770,000 barrels per day.

The project also incorporates HISEP (High Pressure Separator) technology, enabling subsea separation of oil and gas and re-injection of the gas into the reservoir. The objective is to maximise recovery while limiting surface flow rates.

Six-partner governance structure

The Mero field is operated under the Libra Production Sharing Contract (PSC), signed in December 2013. Petrobras holds 38.6% of the project as operator. Shell Brasil and TotalEnergies each hold 19.3%, while China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) each own 9.65%. Pré-Sal Petróleo S.A. (PPSA) completes the consortium with 3.5%, representing the Brazilian federal government in the non-contracted area.

The U.S. Energy Information Administration expects a sharp drop in oil prices, driven by excess supply and an early easing of OPEC+ production cuts.
Afreximbank leads a syndicated financing for the Dangote refinery, including $1.35 billion of its own contribution, to ease debt and stabilise operations at the Nigerian oil complex.
The Emirati logistics giant posts 40% revenue growth despite depressed maritime freight rates, driven by Navig8 integration and strategic fleet expansion.
ConocoPhillips targets $5 bn in asset disposals by 2026 and announces new financial adjustments as production rises but profit declines in the second quarter of 2025.
Pakistan Refinery Limited is preparing to import Bonny Light crude oil from Nigeria for the first time, reflecting the expansion of Asian refiners’ commercial partnerships amid rising regional costs.
Frontera Energy Corporation confirms the divestment of its interest in the Perico and Espejo oil blocks in Ecuador, signalling a strategic refocus on its operations in Colombia.
Gran Tierra Energy confirms a major asset acquisition in Ecuador’s Oriente Basin for USD15.55mn, aiming to expand its exploration and production activities across the Andean region.
The Mexican government unveils an ambitious public support strategy for Petróleos Mexicanos, targeting 1.8 million barrels per day, infrastructure modernisation, and settlement of supplier debt amounting to $12.8 billion.
KazMunayGas has completed its first delivery of 85,000 tonnes of crude oil to Hungary, using maritime transport through the Croatian port of Omisalj as part of a broader export strategy to the European Union.
Tullow marks a strategic milestone in 2025 with the sale of its subsidiaries in Gabon and Kenya, the extension of its Ghanaian licences, and the optimisation of its financial structure.
Saudi giant accelerates transformation with $500 million capex reduction and European asset closures while maintaining strategic projects in Asia.
Record Gulf crude imports expose structural vulnerabilities of Japanese refining amid rising geopolitical tensions and Asian competition.
Diamondback Energy posted a $699mn net income for the second quarter of 2025 and accelerated its share repurchase programme, supported by record production and an upward revision of its annual guidance.
Swiss group Transocean reported a net loss of $938mn for the second quarter 2025, impacted by asset impairments, while revenue rose to $988mn thanks to improved rig utilisation.
The rapid commissioning of bp’s Argos Southwest extension in the Gulf of America strengthens maintenance capabilities and optimises offshore oil production performance.
Eight OPEC+ countries boost output by 547,000 barrels per day in September, completing their increase program twelve months early as Chinese demand plateaus.
New Delhi calls US sanctions unjustified and denounces double standard as Trump threatens to substantially increase tariffs.
BP posts a net profit of $1.63 bn in the second quarter 2025, driven by operational performance, an operating cash flow of $6.3 bn and a new $750 mn share buyback programme.
The Saudi oil giant posts solid results despite falling oil prices. The company pays $21.3 billion in dividends and advances its strategic projects.
Dangote Group appoints David Bird, former Shell executive, as head of its Refining and Petrochemicals division to accelerate regional growth and open up equity to Nigerian investors.
Consent Preferences