OSX Brasil Clinches $ 900 Mln Conversion Contract

TUPI B.V., a subsidiary of Petróleo Brasileiro S/A (Petrobras), has hired OSX Construção Naval S.A. (OSX CN), a subsidiary of OSX Brasil S.A., for the integration of two FPSO units (Floating, Production, Storage and Offloading), P-67 and P-70, with an additional option to hire OSX to integrate a third unit, P-72 or P-73.

These FPSOs are part of the offshore production fleet to be used by Petrobras and its partners for the production of the Brazilian pre-salt oil and gas fields in the Santos Basin.

The contract for a total amount of over US$ 900 million will be carried out by OSX CN and Mendes Júnior Trading e Engenharia S/A, with a 49% and 51% stake, respectively, who will make use of the OSX shipbuilding unit to carry out the integration work.

The contracted integrations, which include the construction of various modules, have a delivery schedule to Petrobras at the shipbuilding unit of up to approximately 49 months and 60 months, respectively. The optional contract to integrate the third FPSO may occur in up to 18 months from contract signature by option of TUPI B.V.

“With the largest offshore investment program in the world, Petrobras has now become the fourth client to hire OSX’s Açu Shipbuilding Unit, and we are very proud of it. We are committed to quality and efficiency in accomplishing the task that is being entrusted to us. OSX’s team now has the pride and the responsibility of contributing to the oil and gas production of Petrobras and its partners,” stated Carlos Bellot, CEO of OSX Brasil S.A.

[mappress]
Source: osx, August 14, 2012