Offshore staff

STAVANGER, Norway -- Petróleo Brasileiro S.A. (Petrobras) has awarded Prosafe a charter contract for the supply and operation of a gas FPSO to operate offshore Brazil. The firm period of the contract is nine years, followed by a maximum of six one-year options.

Prosafe will be responsible for engineering, procurement, construction, installation, commissioning, and operation of the FPSO, which is scheduled to be onsite in 4Q 2008.

The spread moored vessel will be designed for a maximum water depth of 1,500 m (4,921 ft). The conversion will be based on a VLCC sized vessel owned by Prosafe. The FPSO will have a gas compression capacity of 353,000 MMcf/d and oil storage capacity of 700,000 bbl.

The award is the fourth FPSO conversion project that Prosafe has secured in less than 15 months. These four contracts, including option periods, have increased the order backlog more than $2.5 billion.

12/13/2006