Petrobras in the Market for an Offshore Production Rig

Shortly, Petrobras will begin accepting offers to subcontract a new production rig for the Marlim Sul Field where production has started to exceed initial expectations. The new rig must have a production capacity of 100,000 barrels per day, be able to pump 70.6 million cubic feet of natural gas per day and rated to work in 3,970 feet of water. The contract term is expected to be for seven to nine years after which Marlim's main 180,000 bpd P-40 rig would be able to handle all output.

Since the expected production life of the Marlim field is less than originally projected, Petrobras decided it would be more economical to subcontract a rig rather than build another.

The P-40 started producing at the end of 2001 and is now working at full capacity. Petrobras has recently found itself under fire from local politicians and industries for ordering the construction of its new rigs abroad. Both local and foreign companies will be able to compete for the lease of the new rig.