Petrobras to Sign US$923mn Contracts for P-52 Friday

Brazil's federal energy company Petrobras will sign Friday US$923.3mn in contracts with three groups for the production of a deep water semi-submersible rig to extract oil from the Roncador oil field in the Campos basin, the company said in a statement.

Singaporean-French engineering group Fels Setal/Technip will build the platform for US$774.9mn; Britain's Rolls Royce will supply energy generation modules for US$82.6mn and Italy's Nuovo Pignone will supply gas compressors at cost of US$65.8mn, Petrobras said.

The consortium led by Fels Setal has 41 months to conclude the construction of the platform that should be in position over the oil field within 32 months.

P-52 will have a production capacity of 180,000 barrels a day (b/d). The new rig is part of Petrobras expansion plans to boost oil production by 37.5% to 2.2 million barrels aday (mb/d) from 1.6mb/d.

Petrobras is currently completing the tender for another two platforms, the P-51 and the P-53. A further four new rigs will be built in the company's five-year strategic plan through to 2007, in addition to the refurbishment of the P-34, which was damaged in an accident in 2002.

Brazil's national development bank BNDES financed the Brazilian suppliers. The rig will be build at the Brasfels shipyard in Angra dos Reis in the state of Rio de Janeiro, close to the Campos basin.

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