FloaTEC Inks LOI with Petrobras for P-61 Platform

Keppel Corp. confirmed Friday that FloaTEC, a joint venture between offshore and marine unit Keppel FELS and J. Ray McDermott, has signed a letter of intent with Petrobras and Chevron for a $1.1 billion oil platform in Brazil, Dow Jones reports.

According to Keppel, FloaTEC's letter of intent contract for the P-61 oil platform "is expected to be signed at a later date," but that such signing didn't mean that FloaTEC has received the contract for building the rig, the report noted.

Rather, the letter of intent is an expression of interest to work with FloaTEC on Petrobras' P-61 project, the state-run oil giant's first Tension Leg Platform (TLP) installed at a Brazilian offshore oil field, Dow Jones said.

Yesterday, BW Offshore and the Brazilian industrial group QUIP also announced the signing of a letter of intent with the Petrobras-Chevron consortium for the P-63 FPSO, which will operate offshore Brazil at the Papa Terra field.

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