Yinson remains first-ranked in Petrobras' P-88 tender

Yinson Production remains first-ranked in Petrobras’ tender for the P-88 FPSO, planned for the revitalization of the Albacora field in Brazil’s Campos Basin, while Petrobras continues its evaluation process.

Yinson submitted the lowest evaluated price, at approximately USD 2.297 billion, followed by COOEC at USD 2.842 billion, Shapoorji Pallonji at USD 2.900 billion, MISC at USD 3.056 billion and BW Offshore at USD 3.191 billion.

The difference between Yinson and the second-ranked proposal is approximately USD 545 million, or 19%.

The tender has not yet reached its final conclusion. During the evaluation process, Yinson’s proposal has been questioned by another participant in the tender.

No details regarding the basis of the questioning or the company behind it have been made public. No public information links the price difference to the questioning.

Yinson therefore remains first-ranked while Petrobras proceeds with its assessment and the subsequent stages of the tender.

The P-88 will be contracted under a Build, Operate and Transfer model and is designed to produce up to 120,000 barrels of oil per day as part of the Albacora revitalization project.

For now, the key point is the outcome of Petrobras’ evaluation and the next steps in the process.

Keep an eye on this.