Brazil's Petrobras Plans to Begin Operations at Offshore Platform by End of 2013

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Researched by Industrial Info Research Latin America (Córdoba, Argentina)--Brazilian state oil company Petroleo Brasileiro S.A. (NYSE:PBR) (Petrobras) (Rio de Janeiro, Brazil) plans to begin operations at its new offshore crude oil and natural gas platform, called P-63, in the Papa-Terra field on the south of Campos Basin, 111 kilometers away from the Rio de Janeiro coast, in December 2013.

The project for the new platform, which is a floating, production, storage and offloading vessel (FPSO), is in the module construction and integration stage. These works started in 2011 and are ongoing in the Rio Grande City shipyard. For the execution of the project, Petrobras awarded the Brazilian company Quip S.A. a $975 million engineering, procurement and construction (EPC) contract. According to the contract, Quip S.A. has to complete the construction and deliver the vessel to Petrobras in September 2013, so it can be send to the Papa-Terra field and deliver its first oil in December 2013.

Petrobras has plans to operate seven offshore production platforms located on the southeast coast of Brazil, four platforms on Campos Basin and three platforms on Santos Basin until the end of 2013.

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