Negotiations for Contracting 2 New FPSOs in Lula

Source: www.gulfoilandgas.com 3/19/2013, Location: South America

Petrobras and its Block BM-S-11 partners, BG E&P Brasil and Petrogal Brasil, announces negotiations are underway for the contracting with consortium QGOG/SBM (Queiroz Galvao Oleo e Gas S.A./ SBM Offshore) of 2 FPSOs for production development at Lula Alto and Lula Central, in Lula Field, Santos Basin pre-salt.

Each FPSO will be connected to 18 wells, 10 of which are production wells and 8 injectors. Production is expected to begin in January 2016 at Lula Alto and in March 2016 at Lula Central.

Each FPSO will have a processing capacity of 150,000 bpd of oil and 6,000,000 m3/day of natural gas.

By contract the FPSOs should be delivered no later than November 2015 for Lula Alto and January 2016 for Lula Central, allowing these areas to start production according to the schedule established in the Petrobras Business Plan. Local Content requirements in the contract are 65% for each FPSO.

With this strategy, Petrobras has strengthened the robustness of its oil production curve, without prejudice to local content requirements and contributing to the employment generation in the Brazilian shipbuilding industry.

Consortium BM-S-11 is operated by Petrobras (65%), in partnership with BG E&P Brasil Ltda. (25%) and Petrogal Brasil S.A (10%).

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


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