Brazil: OGX Orders Three FPSO Vessels from OSX

OSX Brasil S.A., a Brazilian corporation engaged in the equipment and services sector for the offshore oil and gas industry, by means of integrated operations in shipbuilding, chartering of exploration and production (E&P) units, and operation and maintenance (O&M) services, announces that it has has received from its client OGX Petróleo e Gás (“OGX”) an order for 3 (three) new FPSO units (Floating, Production, Storage and Offloading).

The vessels will be chartered for 20 years by OGX, according to the strategic cooperation contract existing between the two companies, to serve the oil and gas production program of OGX.

As a result, OSX’s firm order book has nearly doubled its value, increasing from US$ 2.5 billion to US$ 4.8 billion approximately.

The 3 new FPSOs of OSX will follow the “Flex” concept, already applied for FPSO OSX-2, which allows the processing of different types of oil, reaffirming OSX’s technological capacity for designing integrated solutions for the offshore industry.

“The confirmation of this order for 3 additional FPSOs nearly doubles the value of our current order book and materializes our expectations for OSX´s business plan. It is another demonstration of the success of the exploratory campaign of our client OGX, and of the excellent perspectives for oil production in Brazil.”, said Luiz Eduardo Carneiro, OSX´s CEO.

[mappress]

Source: OSX, April 14, 2011