The development stages:Under Construction/2016-01,Ramp-up/2017-05.The investment is US$1.5bn.FPSO Cidade de Saquarema belongs to, and will be operated by, a joint venture owned by affiliated companies of SBM Offshore, Mitsubishi Corporation, Nippon Yusen Kabushiki Kaisha, and Queiroz Galvão Óleo e Gás S.A. SBM Offshore is in charge of construction. The FPSO is planned to be anchored in 2,200m of water in the central part of the Santos basin's pre-salt BM-S-11 block, more specifically, in Lula field. once completed, Cidade de Saquarema will have the capacity to process up to 150,000b/d of oil, compress 211Mf3/d of gas, and store up to 1.6Mb of oil.