Brazil's Petrobras Calls for New FPSO Tender

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--Brazil's state-owned oil company Petroleo Brasileiro S.A. (NYSE:PBR) (Petrobras) (Rio de Janeiro) has called for an international tender for the construction and operation of a crude oil and natural gas floating, storage, production and offloading vessel (FPSO) in the Tartaruga Verde and Tartaruga Mestica offshore fields, in Brazil's Campos Basin.

The new FPSO will have a production capacity of 150,000 barrels per day (BBL/d) of crude oil and 4 million standard cubic meters per day of natural gas, and the vessel will be able to store 1.5 million barrels of crude. The VLCC hull conversion and module integration works are scheduled to begin in the fourth quarter of 2014, and the first oil production is to be at the end of 2017.

Petrobras will award an EPC contract, and the selected company will construct the FPSO and will be the operator for a minimum of 20 years. The total investment value of this project is estimated to be $1.4 billion.

The Tartaruga Verde and Tartaruga Mestica fields are located in BM-C-36 concession area, block C-M-401 of the Campos Basin. Both fields are 127 kilometers from the Rio de Janeiro coast, at a depth of about 2,900 meters. Petrobras owns all of the share rights of these fields.

This new FPSO is part of several planned production platforms scheduled in the Petrobras 2014 Business Plan, which expects to duplicate the company's crude oil production capacity until 2020.

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