BR Offshore targets early operations at Barra do Furado

BR Offshore expects to complete the remaining licensing process for its Barra do Furado project by the end of 2026 and says part of the facility could begin operating before construction of the entire development is completed.

Located between Campos dos Goytacazes and Quissamã, in northern Rio de Janeiro state, the project is focused on ship recycling and offshore support activities. Its executive engineering has been completed, while surveys and seismic studies are being carried out along the access channel.

BR Offshore estimates that full construction will take between 24 and 26 months, although operations could start earlier as sections of the facility become available. The development will include more than 900 meters of quay, while the company currently estimates investment at around R$800 million.

The company is also in discussions with owners of large vessels that could eventually be brought to Brazil for recycling, potentially expanding the project’s market beyond the domestic fleet.

The project comes as Brazil moves into a significant decommissioning cycle. ANP estimates more than R$70 billion in upstream decommissioning investments between 2025 and 2029.

Petrobras alone plans to invest US$9.7 billion in decommissioning between 2026 and 2030, including the removal of 18 offshore platforms.

The regulatory environment is also evolving. The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships entered into force globally in June 2025, while Brazil’s accession remains under consideration in Congress. A separate bill establishing a national framework for ship recycling is also awaiting consideration by the Chamber of Deputies’ Constitution and Justice Committee.