A Chinese state-owned shipbuilder delivered a refurbished oil and gas production and storage vessel to Brazilian oil giant Petrobras on Tuesday, Chinese state-run news agency Xinhua reported. The FPSO Cidade de Saquarema could boost the daily crude production of the Brazilian firm by 150,000 barrels in the next 25 years, said Xinhua,.

China State Shipping Corporation (CSSC) and Dutch-based SBM Offshore were responsible for the refurbishment and conversion of the oil vessel, according to the report.

Chinese state-run news agency CNS quoted Petrobras saying the vessel offered “sustainable support for the supply of Brazilian energy” and that the project “proves the friendship between China and Brazil”.

Nan Daqing, Executive Vice President of CSSC, was quoted as saying the refurbished craft was “the most advanced” floating oil vessel in the world.

The vessel is 346.5 metres long and 58 metres wide, with storage capacity for 1.6 million barrels of crude oil.