Brazil's SBM-QGOC Consortium to Inaugurate Three Offshore Platforms

---

Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--A consortium that includes SBM Offshore (Schiedam, Netherlands) and Queiroz Galvao Oleo e Gas (QGOG) (Rio de Janeiro, Brazil) plans to inaugurate three offshore crude oil and natural gas production platforms in the Santos Basin, southern Brazil, in the next two years.

By the end of 2014, the consortium plans to start operations of the Cidade de Ilhabela Floating Production Storage and Offloading (FPSO), in the Sapinhoa Offshore Field. The vessel will have a 150,000 barrels per day (BBL/d) of crude oil production capacity and 211.88 million standard cubic feet per day of natural gas capacity, with a crude storage capacity of 1.6 million barrels. The total investment value of the project is about $1.05 billion.

By the last quarter of 2015 and first quarter of 2016, SBM and QGOG expect to begin operations of the Cidade de Marica FPSO and Cidade de Saquarema FPSO, on the Lula Alto and Lula Central fields, respectively. Both vessels, which are considered to be twins due to their similar characteristics, are part of a project with a total investment cost of $3.5 billion. Each platform will also have a 211.88 million standard cubic foot per day of natural gas production capacity with a crude storage capacity of 1.6 million barrels.

The consortium will also be the operator of the 3 FPSO units for the next 20 years. The platforms module integration works will be carried out at the Brasa Shipyard (Niteroi, Brazil), which belongs to the Synergy Group (Rio de Janeiro, Brazil).

The Sapinhoa Offshore field is located on Block BM-S-09, which was concessioned to the companies Petroleo Brasileiro SA (Petrobras) (NYSE:PBR) (Rio de Janeiro, Brazil) (45%), BG Group (Reading, England) (35%) and Repsol (Madrid, Spain) (25%). The Lula Alto and Lula Central fields are both located on block BM-S-11, which was concessioned by Petrobras (65%), BG Group (25%) and Petrogal (Lisbon, Portugal) (10%).

View Project Report - 300114811 300114868 300115004

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.