Petrobras awards LOI for Tupi FPSO

Petrobras as awarded BW Offshore a letter of intent for the conversion and operation of an FPSO as the first production unit at Tupi field.

Offshore staff

HAMILTON, Bermuda --Petrobras as awarded BW Offshore a letter of intent for the conversion and operation of an FPSO as the first production unit at Tupi field.

BW will supply the FPSOBW Peace effective in March 2009 for a firm contract period of 10 years with a further option for five more years.

BW says the FPSO will be turret moored in water depths of up to 2,500 m (8,202 ft).BW Peace has a processing capacity of 40,000 b/d of oil and a storage capacity of 1 MMbbl. It will conduct testing and early production at various locations within Tupi according to the current development plan.

04/24/2008

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