Petrobras Leases 6 New Drilling Units from Locals

Brazil's federal energy company Petrobras (NYSE: PBR) has signed 10.5bn reais (US$4.8bn) in leasing contracts for six deepwater floating drilling units that will be built by local companies, Petrobras said in a statement.

Brazilian engineering firms Norberto Odebrecht, Petroserv, Queiroz Galvao and Schahin Engenharia form a group that won a contract to build four drilling units with capacity to operate at water depths of up to 2,000 meters, Petrobras said.

The lease contracts are for seven years with a renewal option for another seven. The units are due to start operations in 2009, Petrobras said, without giving specific contract amounts.

Additionally, Schahin and Queiroz Galvao together won a tender to build two drilling units with capacity to operate at water depths of up to 2,400 meters. These units will initially be leased for five years and are scheduled to start operations in 2010.

At least one of the new units will have capacity to operate at water depths of around 3,000 meters, Petrobras said.

The drilling units can be used for E&P operations.

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