Petrobras to charter two new production and storage vessels for the Campos Basin

Offshore staff

Petrobras has submitted two letters of intention to Modec Inc, for an FPSO for the RJS-409 and RJS-415 development project and an FSO that will work in the Roncador, Marlim Leste, and Marlim Sul fields. The systems will operate in the Campos Basin.

The contract for chartering and operating the FPSO is worth $501 million and will run for an eight-year term, renewable for four years. The FPSO will have a production capacity of 100,000 b/d of oil and will be in a water depth of 1,350 m.

The FSO will carry oil from the Roncador, Marlim Leste and Marlim Sul fields through the P-51, P-52, P-53, P-55 platforms and Roncador Module 4 UEP, and remain connected to the PRA-1 pumping platform. The FSO will have a storage capacity of more than 2.1 MMbbl of oil.

The charter and service contracts are worth $730 million for a term of twenty years.

The FSO will be refitted in Singapore and should arrive in Brazil in December 2006.

07/26/05