Technip, Techint awarded Petrobras FPSO deal

Wednesday, April 17, 2013

A consortium comprising France's Technip and Italy's Techint has been awarded an offshore oil services contract for Brazil's federal energy major Petrobras (NYSE: PBR).

The joint venture will be responsible for topside construction, integration, commissioning and startup assistance of the P-76 floating production, storage and offloading (FPSO) unit, Technip said in a statement.

The vessel will be located in the pre-salt Santos basin, off the coast of Rio de Janeiro in Brazil's southeast.

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It is expected to produce 180,000b/d of oil and 7Mm3/d of gas when completed in 2017.

Paris-based Technip said the value of the contract ranged from 250mn euros (US$328mn) to 500mn euros.

"We are delighted to have the opportunity to keep working with Petrobras," Technip's offshore Brazil chief Jose Jorge said. "This contract strengthens furthermore our presence in the burgeoning Brazilian offshore pre-salt market."

Jorge added that 70% of the project will comprise local content in accordance with Brazilian law.