Lack of new production floater orders continues

According to ODS-Petrodata Inc., Houston, its database shows that Petroleo Brasilerio SA (Petrobras) was the last company to place an order for a production floater.

Guntis Moritis
OGJ Production Editor

HOUSTON, Apr. 24 -- According to ODS-Petrodata Inc., Houston, its database shows that Petroleo Brasilerio SA (Petrobras) was the last company to place an order for a production floater. Petrobras's August 2008 order was with Modec Inc. for installation of a floating production, storage, and offloading vessel in the Tupi field pilot, off Brazil.

ODS-Petrodata said this makes two consecutive quarters without a production floater order. More importantly, this was the last contract as well, meaning that there has not been even a contract for redeployment of an existing unit, ODS-Petrodata said.

It noted that there were a few letters of intent in second half 2008, but those commitments were cancelled. Also it says the closest to an actual contract was a recent letter of understanding for a Nexus Production Ltd. FPSO for deployment on Premier Oil PLC's Dua and Chim Sao project off Vietnam.

For the Tupi pilot, Modec will convert the VLCC M/V Sunrise IV into the Cidade de Angra dos Reis MV22 FPSO. Modec's contract is for a 15-year lease with five 1-year options.

Modec expects the FPSO to arrive off Brazil in fourth quarter 2010.

Premier's development plan off Vietnam entails two wellhead platforms tied back to an FPSO, with associated gas exported via a spur to the Nam Con Son pipeline.

Contact Guntis Moritis at guntism@ogjonline.com.

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