QGOG Constellation awarded two new FPSOs

Source:QGOG Constellation S.A.

QGOG Constellation S.A. (“QGOG Constellation”) announces that, by means of letters of intent (“LOI”), its subsidiary Queiroz Galvão Óleo e Gás S.A. (“QGOG”), together with SBM Inc., has been awarded two charter and service agreements for two new FPSOs for the Consortium BM-S-11, operated by Petrobras. The units will be owned and operated by a Joint Venture comprising of affiliated companies of QGOG and SBM Offshore.

The contracts to be signed will establish delivery of the two units by end 2015 and early 2016, for pre-salt production development at the Lula Alto and Lula Central fields, located in the Santos Basin, in Brazil. These units will have 65% of local content and a daily oil production capacity of 150,000 barrels per day (bbl/d) and gas production capacity of 6.0 million cubic meters per day (m³/d).

QGOG Constellation awarded two new FPSOs

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