Enterprise Oil Grants $270 Million Offshore Contract

Enterprise Oil said on Friday it had awarded a $270 million contract to FMC/Modec to provide an offshore facility and subsea equipment for the Bijupira-Salema oilfields off Brazil's coast.

The planned floating production, storage and offloading (FPSO) facility will have oil-processing capacity of 70,000 barrels of oil per day and storage capacity of one million barrels.

Sub-sea development at the fields, in the Campos Basin, will include 15 wells tied back via manifolds, Enterprise said in a statement.

Operator of the Bijupira-Salema fields, with a 55 percent interest, Enterprise said the contract was subject to approval by its partners - Brazilian engineering firm Odebrecht and the country's state oil giant Petrobras - with 25 percent and 20 percent, respectively.

"The project is one of the first to be developed in Brazil by an international company and is a key part of Enterprise's ambition to build a significant business in the country," the company said.