Petrobras Announces Anticipation of Pre-Salt Projects

Petrobras, as the operator of Blocks BMS-11 and BMS-9, announces that it was approved the chartering of two new FPSO- platforms, intended for use in the Guará-Norte area and Cernambi field (previously known as Iracema area), located at the Santos Basin pre-salt area. Each FPSO will be produce up to 150,000 barrels of oil and 8 million cubic meters of gas per day. They are expected to start up in 2014, anticipating production at the areas, which had previously been scheduled to begin after 2014.
The two new platforms are part of the first production development phase of Guará-Norte (BMS-09) and Cernambi (BMS-11). The consortiums made the strategic decision to charter the units aiming to enable early production at these areas, which the initial flow tests presented excellent results.
The Company expects to have the units converted and the modules built and integrated in Brazil. The target is to achieve a local content index above 65% in the construction of the units.
Source: Press release