Petrobras to Get Platform Proposals Next Week

RIO DE JANEIRO (Dow Jones Newswires), December 3, 2008

Brazilian state-run energy giant Petroleo Brasileiro expects to receive proposals to build two oil platforms on Tuesday, a company executive told the local Estado news agency Wednesday.

Petrobras' general manager for exploration, production and naval transport, Antonio Carlos Justi, said the proposals will be for the P-61 and P-63 platforms to be installed at the Papa Terra field in the Campos Basin. Justi made the comments on the sidelines of an event in Sao Paulo.

Justi said the tenders will be key to determining future development costs, including for Brazil's promising subsalt oil deposits.

"The stakes are high for these proposals," Justi said. "They will determine the market that will be used for the subsalt [equipment]."

Petrobras had considered delaying the tenders, Justi said, but decided to go forward with them so that they could be included in the upcoming 2009-2013 strategic plan. The plan is expected to be completed Dec. 19 or Dec. 20, according to Petrobras.

The executive also said that Petrobras will tender eight hulls for the first phase of development of the key Tupi field in the Santos Basin. Topside tenders for the platforms, however, will be done after completion of a long-term pilot production test that will start in March. 

Copyright (c) 2008 Dow Jones & Company, Inc.

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