Contract awards for construction of eight FPSO hulls for offshore Brazil

abarrelfullabarrelfull wrote on 12 Nov 2010 08:35
Tags: bg-group brazil contracts tupi

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BG Group and partners have today awarded Engineering, Procurement and Construction (EPC) contracts for eight hulls for the Floating Production, Storage and Offloading (FPSO) vessels that will be used in the full field development of the discoveries on blocks BM-S-11 and BM-S-9 in the Santos Basin, offshore Brazil.

The EPC contracts for the hulls have been awarded to the Brazilian company, Engevix Engenharia S.A.

The total value of the eight hull EPC contracts is approximately $3.5 billion, with net costs to BG Group of approximately $911 million.

Upon final completion, each FPSO will have a production capacity of 150 000 barrels of oil per day (bopd) and approximately 212 million cubic feet of gas per day.

Six of the eight completed vessels will be allocated to block BM-S-11 containing the Tupi, Iracema and Iara discoveries and the remaining two will be allocated to block BM-S-9 containing the Guará and Carioca discoveries. The completed vessels will be in addition to the first permanent 100 000 bopd FPSO already in operation on Tupi and a further two 120 000 bopd FPSOs due onstream on Tupi and Guará in 2013.

BG Group Chief Executive Frank Chapman said: "The contract awards for the construction of eight FPSO hulls in Brazil adds further momentum and certainty to the rapid development of our substantial interests in this world-class play."

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