Petrobras Taps 5 Finalists for Sub-Salt Platform Tender

RIO DE JANEIRO (Dow Jones Newswires), Jul. 9, 2009

Brazilian state-run energy giant Petrobras has narrowed the bids on its sub-salt platform tender to five groups, local business daily Valor Economico reported Wednesday.

The tender for the construction of eight floating oil platforms for the sub-salt area of the Santos Basin is expected to total four billion Brazilian reals ($2 billion).

Since bidders are required to show that they have experience with similar platform projects, partnerships between shipyards and engineering firms have been formed.

Valor identified the five consortia still competing for the tender.

Singapore-based rig builder Keppel FELS has partnered with Brazilian construction group WTorre and Monaco's Single Buoy Moorings, or SBM.

Local construction company Engevix is working with Sweden's Gotaverken Arendal, or GVA, while Brazilian Shipyard Atlantico Sul has joined forces with Norway's LMG Marin.

Also, Brazil's UTC Engenharia and France's DORIS Engineering are partners, as are Brazilian conglomerate Andrade Gutierrez and South Korea's Hyundai.

The five groups are to submit technical and commercial proposals by July 31. However, Valor reported that individuals familiar with the matter said the submission period may be extended into August.

The platforms are scheduled to begin operating in the sub-salt area in 2015 and 2016. They each will have daily capacity of 120,000 barrels of oil and five million cubic meters of natural gas, according to information released last year by Petrobras.

The eight platforms are part of a lot of 10 platforms intended for deepwater work in the sub-salt region. Depths range from 2,400 to 3,000 meters.

The two platforms not included in the current tender will be tendered under a system where companies construct the platforms and then rent them to Petrobras for 15 years. These platforms are expected to enter production in 2013 and 2014.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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