Petrobras to order vessels worth up to US$30bn, CFO says

Brazil's federal energy company Petrobras (NYSE: PBR) is in talks with major South Korean shipbuilders on vessel orders that could be worth US$25bn-30bn, a Petrobras spokesperson told BNamericas, confirming a Reuters report. About US$15bn would be spent solely on drill ships and semisubmersibles, with contracts to be awarded in 2009. Last year, the Brazilian oil major ordered 12 drill ships from South Korean companies. Petrobras executives are in Seoul this week holding meetings with top local shipbuilders like Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering, according to Reuters. Petrobras' CFO Almir Barbassa, who is leading the group visit, also told Reuters that Petrobras is seeking around 240 offshore development vessels in the next 5-6 years. The orders would also include storage units as well as supply and transportation vessels. During the visit, Petrobras has confirmed orders of seven drill ships to be built through partnerships between Brazilian and South Korean companies. Those units are part of a total number of 28 drill ships to be built in Brazil for delivery in 2013-17, according to a company presentation provided by the Petrobras spokesperson. The CFO also said Petrobras would soon issue tenders for eight FPSOs and seven drill ships.