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BG Group in a $3.5bn Brazil drilling deal

first_img KCS-content Thursday 11 November 2010 8:39 pm whatsapp Tags: NULL Show Comments ▼ BG GROUP has signed a $3.5bn (£2.bn) contract to build eight giant floating drilling platforms to help pump oil from a string of discoveries off the coast of Brazil.BG and Petrobras, Brazil’s state oil company, said the joint order for the new vessels had been placed with private Brazilian company Engevix Engenharia. BG will pay $911m of the total, with the balance coming from Petrobras, Repsol of Spain and Portugal’s Galp, joint venture partners in Brazil’s Santos Basin oil project.The floating production units known as FPSOs will have the capacity to process up to 150,000 barrels per day of oil and 6m cubic meters of gas per day and are expected to be in operation by 2017, Petrobras said in a statement.Construction of the hulls will start in March at a shipyard in the southern state of Rio Grande do Sul with 70 per cent of their content sourced in Brazil. The first two should be delivered in 2013 and the rest completed by 2015. Of the eight units, six will be used in the Santos Basin blocs where the Tupi and Iracema fields are located and which are operated by Petrobras, BG Group and GALP. The other two will be used in a bloc containing the Guara and Carioca fields. BG Group in a $3.5bn Brazil drilling deal center_img Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDirect HealthyKate Silverton’s PartnerDirect Healthythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centerlast_img read more