Brazil's Petrobras Plans to Pick Module Integrator for Offshore Crude Terminal in 2015

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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), expects to pick a company in second-quarter 2015 to integrate the modules of its planned floating, storage and offloading (FSO) vessel, to be used as a crude oil export terminal in the offshore Campos Basin.

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The vessel, known as UOTE, will have a total crude oil storage capacity of 2 million barrels and will be installed 90 kilometers off the coast of Rio de Janeiro. It has a total investment value of $320 million. It will be used as support for production platforms that are now under construction, with start-ups in 2016 in the Campos and Santos basins.

For additional information, see July 2, 2014, article - Brazil's Petrobras Begins FPSO Construction in Santos Basin; and June 10, 2014, article - Brazil's Petrobras to Select Topside Module Integration Contractors for Two FPSOs.

In 2012, Petrobras signed a contract with Tanker Pacific Private Limited (Singapore) to perform the FSO hull conversion. The conversion works are under way at Tanker Pacific's shipyard in Singapore.

Topside module integration will take place in Brazil, when Petrobras selects the contractor. The integration is scheduled to last at least six months. The terminal operation start-up is scheduled by the second quarter of 2016.

Transpetro (Rio de Janeiro), a subsidiary of Petrobras, will operate the FSO vessel. Transpetro already operates 49 crude oil, refined products and natural gas terminals in Brazil, including two floating, storage and regasification units (FSRU). However, this will be the first FSO vessel to be operated as an offshore export terminal by Transpetro.

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