BG Group Approves $4.5B of FPSO Contracts for Brazil
by Rigzone Staff
Friday, July 20, 2012
Gas major BG Group announced Friday that it and its partners have approved contracts worth a total of $4.5 billion for FPSO facilities connected to Santos Basin pre-salt projects in blocks BM-S-9 and BM-S-11, offshore Brazil.
The contracts, for the construction of the first six topside modules and integration packages for eight FPSO (floating, production, storage and offloading) units, represent "another milestone in the fast-track, first-phase development of the big five pre-salt discoveries in BM-S-9 and BM-S-11", said BG Group in a statement.
BG Group added that the contracts for the remaining two topside modules and integration packages are expected to be awarded within the next 18 months.
In addition to these approvals, BG Group confirmed that the BM-S-11 consortium has decided to tender for at least one additional chartered FPSO to be used in areas with different topside requirements.
BG Group Chief Executive Sir Frank Chapman said:
"Progress with delivering on the vast potential in our world-class fields offshore Brazil continues apace. The approval for these contract awards, along with the tender process for an additional international FPSO, demonstrates the close alignment between partners on the fast-track, first-phase delivery plans for these outstanding resources."
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