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Petrobras charters second Golfinho FPSO

By OGJ editors
HOUSTON, July 26 -- State-owned Petróleo Brasileiro SA (Petrobras) announced plans to charter a floating, production, storage, and offloading platform (FPSO) for Module II development of Golfinho oil field in Espírito Santo basin off Brazil.

Petrobras let a $600 million contract with Saipem SPA for a 9-year contract with a 3-year extension option. The development program calls for Golfinho field's Moldule II to come on stream during the first half of 2007.

Golfinho field's Module I is being developed with the Capixaba FPSO through a $560 million contract signed in November 2004 with Single Buoy Moorings Inc. A floating platform is being converted in Singapore; the FPSO is expected to arrive at Golfinho field by June 30, 2006. Production from Golfinho field is scheduled for 2006.

Each FPSO will have a production capacity of 100,000 b/d and will be able to store 1.6 million bbl. Petrobras is investing $6 billion in Espírito Santo state through 2010 (OGJ Online, Oct. 1, 2004).


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