Petrobras inks deal for Libra FPSO

Offshore staff

RIO DE JANEIRO – Petroleo Brasileiro SA ( Petrobras) will sign a contract to build and lease a floating production ship for the Libra project.  

The contract, Reuters reported, is a first for an FPSO to be used on the Libra prospect northeast of Rio de Janeiro. Libra holds an estimated 8 Bbbl to 12 Bbbl of oil.

Libra will be the first area developed under new production sharing rules, and is set to direct about 42% of its output to the Brazilian government to sell on its own account, Reuters stated.

09/19/2014

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