Petrobras Inks $857MM Deal for Construction of Campos Basin's P-55

Petrobras has signed an agreement for the integration of the hull to the process modules for the construction of Platform P-55. The agreement, worth $857 million, was signed with the Top-55 consortium, formed by Construtora Queiroz Galvao, UTC Engenharia S.A., and IESA Oleo e Gas S.A., during a ceremony held on Monday, December 1, at Petrobras' Engineering area, in Rio de Janeiro.

The integration of the semisubmersible-type platform will be carried out at the Rio Grande Shipyard, in Rio Grande (state of Rio Grande do Sul). The total construction cost for P-55 will be approximately $1.65 billion. The platform is expected to go online in 2011, in the giant Roncador field, in the Campos Basin.

Other Agreements

Hull construction was kicked-off in August, in Pernambuco, at the Atlantico Sul Shipyard. On November 21, agreements were signed with UTC Engenharia for the construction of the Gas Compression, Booster, and Dehydration Module and of the Amine Module, worth approximately $54 million and $60 million, respectively.

The other agreements were signed with Iesa, on October 27, for the construction of the Sulfate Reduction Module, worth $62 million, and for the construction of the Compression Module, for $95 million, and the work will be done in Rio Grande.

Characteristics of the P-55

  • Foreseen investment: $1.65 billion
  • Operation commencement: 2011
  • Depth at the anchoring site: 1,795 meters
  • Oil and gas producer wells: 11
  • Water injector wells: 7
  • Daily oil production capacity: 180,000 barrels
  • Gas compression gas: 6,000,000 m³/day
  • Minimum national content: 70%
  • Direct job generation in Rio Grande: 3,500