Aibel Clinches Deal for P-74 FPSO Project

Aibel, a Norwegian energy service firm, signed a Letter of Intent (LOI) for topside procurement and fabrication with Estaleiros do Brasil (EBR), a joint venture between Japan's Toyo Engineering and Brazilian engineering company SoG - Oleo e Gas, for the P-74 project in the Franco 1 area off Rio de Janeiro, Brazil.

The floating, production, storage and offloading (FPSO), called P-74, is scheduled for deployment to the Franco 1 offshore oil field - which is operated by Petroleo Brasileiro S.A. (Petrobas) - in 2016. The FPSO will be equipped to produce 150,000 barrels of oil per day and 247.2 million cubic feet (7 million cubic meters) of gas per day. In May, EBR was awarded the contract by Petrobras to install topside units for the P-74 FPSO.

Aibel will build a total of five modules for the P-74 FPSO with an overall weight of 4,750 tons. Aibel and its sub-contractors will take approximately 1.2 million manhours to complete the project.

“We are very pleased to have established a good relationship with a new client,” says Nick Routledge, vice president, Field Development South East Asia, said in a company release.

Aibel has already started work on the project at its offices in Singapore and Thailand, with first steel cut planned for October and the final module to be loaded out end of August 2014.



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