Petrobras calls off P-57 tender

Dec 29, 2006 01:00 AM

Brazil's Petrobras has called off a tender for the floating production, storage and offloading vessel P-57 after receiving a lowest bid of almost $ 1.8 bn from a Brazilian consortium.
The bid was submitted by the Atlantico Sul consortium, made up of construction groups Andrade Gutierrez, Camargo Correa, Queiroz Galvao, with the participation of Aker Promar and Samsung. Singapore's Jurong Shipyard offered a price of almost $ 2.4 bn on an engineering, procurement, construction and installation contract that requires high levels of Brazilian content and demands that the angular hull for the Petrobras-designed unit be built in Brazil.

The Atlantico Sul proposal included plans to build the unit on a major dry dock facility that the same group is planning to build at the port complex of Suape, in the north-east Brazilian state of Pernambuco.
"We knew that costs have gone up a lot, as has been seen with steel prices, but the prices that were submitted are just too high," said Petrobras directorof engineering services Renato Duque.

Petrobras project managers are planning to hold talks with the companies that took part in the tender and hope to identify areas where costs can be trimmed. Duque said this process was likely to be followed by a streamlined second tender aimed at attracting a better price.
The FPSO P-57 is intended to provide 180,000 bpd of production capacity on Jubarte, a heavy crude field in the northern sector of the Campos basin.

The Atlantico Sul is also competing in an ongoing tender to build the semi-submersible production unit P-55, while Jurong has been battling to reverse a disqualification called on technical grounds in the same tender.
Another consortium led by Keppel Fels is participating in the P-55 tender.

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