Consortium Nabs $1.2B Platform Deal

Friday, December 21, 2007
The FSTP consortium, composed of Technip and Keppel FELS, won from Petrobras a contract, worth approximately $1.2 billion, for the engineering, procurement and construction of the P-56 semi-submersible platform. The platform will be installed in the Marlim Sul oil field in the Campos Basin, in 1,700 m waterdepth. The P-56 platform, based on the design of the existing P-51 platform, will weigh 50,000 tons and will be one of the largest in the world. It will have a processing capacity of 100,000 barrels of oil and 5.2 million m3 of natural gas per day. It is scheduled for delivery in the fourth quarter of 2010. Technip’s operating center in Rio de Janeiro (Brazil) will be responsible for the engineering of the topsides. Transportation and offshore mating will be supervised by Technip’s operating center in Paris (France). The consortium will undertake procurement activities from its offices in Rio de Janeiro, with a contractual target of 60% local content. After the P-51 and P-52 platforms, the P-56 will be the third semi-submersible production platform built by the consortium. This contract marks a new step in the longstanding and fruitful collaboration between Technip and Petrobras in Brazil, where Technip owns strategic resources, including a flexible pipe manufacturing plant and marine assets.

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