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Petrobras converts 4 Supertankers into FPSOs for ~ $1.7 billion

Converting crude Supertankers or Very Large Crude Carriers (VLCC) into FPSOs is part of Petrobras program to speed up offshore oil fields development.

The consortium made of Odebrecht, OAS and UTC, called the Enseada do Paraguacu consortium, has been awarded this contract on Lump-Sum-Turn-Key basis for an amount below $1.75 billion.

Petrobras acquired last year these vessels, called Titan Seema, Titan Orion, Ticen Ocean and Titan Aries ,  and will rename them P-74, P-75, P-76 and P-77 respectively. 

They will have a capacity of  150,000b/d oil per unit.

The conversion of these 4 Supertankers into FPSOs will be executed in the Inhauma dry docks, in Rio de Janueiro state.

The work will start in June this year for P-74 and mid of next year for the other 3 units.

The completion of the conversion is planned in 2015.

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