Petrobras lets contract for P-57 FPSO unit

By OGJ editors
HOUSTON, Feb. 18 -- Petroleo Brasileiro SA (Petrobras) reported signing a $1.195 billion turnkey contract for the construction of the P-57 floating production, storage, and offloading unit with Single Buoy Moorings Inc. (SBM). The P-57 FPSO will be ready in 3 years and will help Brazil reach its production goal of 3.45 million boe/d by 2015. Current production is about 1.85 million boe/d.

Separately, SBM Offshore NL said the P-57 FPSO would likely be converted in Singapore using one of SBM's very large crude carriers in inventory, the Accord. Topsides will be integrated in Brazil, "in accordance with new local content requirements."

Petrobras said 65% national content is required and the topsides work would be completed at Brasfels, in Angra dos Reis, Rio de Janeiro state.

The P-57 will have the capacity to process 180,000 b/d and compress 2 million cu m/day of gas. It is destined for the Jubarte field off Espirito Santo state, where it will be installed in 4,100 ft of water. The field produces 17º gravity oil, according to Petrobras.

Petrobras also awarded SBM a $63.55 million, 3-year operating contract.

In January 2007 Petrobras canceled orders for the construction of the P-55 platform, which would have had the capacity to produce 180,000 b/d of oil from Roncador field off Rio de Janeiro state, as well as construction of the P-57 FPSO because of excessive cost.

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