Petrobras moves for FPSO lease

Petrobras has signed a "pre-commitment" letter wtih SBM Offshore and Queiroz Galvao Oleo e Gas to begin engineering and procurement leading to the charter and operation of an FPSO to serve a pre-salt area offshore Brazil.

Offshore staff

SCHIEDAM, The Netherlands -- Petrobras has signed a "pre-commitment" letter wtih SBM Offshore and Queiroz Galvao Oleo e Gas to begin engineering and procurement leading to the charter and operation of an FPSO to serve a pre-salt area offshore Brazil.

Petrobras says it expects to award the full letter of intent within a month and for the charter and operation contracts to be executed by the end of 2Q 2010.

No further details about the project were released.

Petrobras is operator for the BM-S-11 consortium wtih 65%. BG E&P do Brasil has 25% and Petrogal Brasil has 10%.

04/13/2010

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