Partial financing approved for P-52 semi off Brazil

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.

Nov. 15, 2004

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.