LOI Signed for Pre-Salt Guara FPSO

Petrobras, the BG Group, and Repsol signed a LOI with the Schahin/Modec consortium on Tuesday, January 26, for the chartering and operation of the FPSO that will operate as the hydrocarbons production, storage and offloading unit for the Guará pilot, located in block BM-S-9, in the pre-salt area of the Santos Basin. Under the document, the agreements will have a term of 20 years.

The FPSO, capable of producing 120,000 barrels of oil and 5 million cubic meters of gas per day, is expected to go on stream in late 2012. The agreement to be signed for the construction of this new FPSO calls for 65% local content. Furthermore, it also determines that the hull will be converted abroad, but its several modules integrated in Brazil.