Partial financing approved for P-52 semi off Brazil

Nov. 15, 2004
The Brazilian Development and Social Bank approved a $387 million loan for construction of a semisubmersible platform to be used in the second phase of development of deepwater Roncador oil and gas field off Brazil.

Peter Howard Wertheim
OGJ correspondent

RIO DE JANEIRO, Nov. 15 -- The Brazilian Development and Social Bank (BNDES) has approved a $387 million loan for construction of a semisubmersible platform to be used in the second phase of development of deepwater Roncador oil and gas field off Brazil.

The semi, to cost $895 million, will be anchored in 1,800 m of water and handle production from 20 wells and injection into 10 wells. Its capacity will be 180,000 b/d of oil.

State-owned Petrobras let contract to a joint venture of Fels Setal SA and Technip Engenheria SA called FSTP Pte. Ltd. for major work on the project.