FPSO Sevan Piranema has performed with consistently high Unit Uptime levels since its start up in October 2007. At end of 2009, the unit has performed at an average of 99.8% Unit Uptime over the last 7 months and with no lost time incidents over the same period.

The unit, which was the first cylindrical FPSO ever to commence operations, is operating for Petrobras S.A. on the Piranema field, located in the deep waters of the Brazilian state of Sergipe. Installed at a 1,100 m water depth, the FPSO Sevan Piranema is currently interconnected to six wells; three producing wells, and three gas injection wells. Current daily production levels are approximately 8,000 bbls of produced oil and 800,000 m3 of gas re-injection. The connection of another four wells will be carried out in 2010/11. Subsequent daily production levels are expected to increase substantially.

At the end of 2009, the FPSO Sevan Piranema's accumulated production reached 6.0 million barrels of petroleum. 30 off­loading operations to export tanker had been carried out; all of which with a high level of efficiency.

The unit is operating under an 11+5 year charter contract with Petrobras S.A. 

Petrobras S.A is a national oil company founded in 1953 by the Brazilian government. Petrobras has been ranked as the world's 4th largest public oil-company and 8th largest company in the world in market value, and closed 2009 with a production of 2.1 million bpd of oil and LNG and 0.4 million boepd of gas.