FPSO lease for Tupi Nordeste Field
de Janeiro, June 1, 2010 � Petr�leo Brasileiro S.A. - Petrobras announces
that, as operator of the consortium responsible for the development of block
BM-S-11, has signed a Letter Of Intent (LOI) with SBM Offshore N.V. (SBM) and
Queiroz Galv�o �leo e G�s S.A. (QGOG), for the construction of a FPSO
that will operate the second pilot project in Tupi, in the pre-salt
region of the Santos Basin.
FPSO will be installed in Tupi Nordeste area, located at nearly 265
kilometers offshore in 2,130 meters of water and 18 kilometers from the
original Tupi discovery. The FPSO will have production capacity of 120,000
bpd of light crude oil and up to 5,000,000 m3/d of natural gas, and will be
operated by the companies responsible for its construction and chartered by
the consortium for a 20-year period.
BM-S-11 is operated by Petrobras (65%), in partnership with BG E&P do
Brasil Ltda. (25%), and Petrogal Brasil/Galp Energia (10%).
project schedule foresees delivery of the FPSO in 34 months from LOI
execution date. The contracts will be signed in the next couple of days.
Contacts: PETR�LEO BRASILEIRO S. A. - PETROBRAS
Investor Relations Department I E-mail: email@example.com /
Av. Rep�blica do Chile, 65 � 22nd floor - 20031-912 - Rio de Janeiro, RJ I
Tel.: 55 (21) 3224-1510 / 9947
This document may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended (Securities
Act), and Section 21E of the Securities Exchange Act of 1934, as amended
(Exchange Act) that merely reflect the expectations of the Company�s
management. Such terms as �anticipate�, �believe�, �expect�, �forecast�,
�intend�, �plan�, �project�, �seek�, �should�, along with similar or
analogous expressions, are used to identify such forward-looking statements.
These predictions evidently involve risks and uncertainties, whether foreseen
or not by the Company. Therefore, the future results of operations may differ
from current expectations, and readers must not base their expectations
exclusively on the information presented herein.