Petrobras signs contracts for delayed refinery

Dec 04, 2009 01:00 AM

Petroleo Brasileiro (Petrobras) has signed five contracts, valued at $ 5.165 bn, for the planned 230,000-bpd Abreu e Lima refinery, a joint venture with Petroleos de Venezuela.
The signing of the contracts coincided with a statement by Petrobras supply director Paulo Roberto Costa that the refinery will cost 23 bn reais -- more than triple its previous estimate. Costa also said the expected start-up date had been delayed to April 2012 from March 2011.

Petrobras and PdVSA completed negotiations for joint construction and operation of the refinery, in Brazil's Pernambuco state, earlier. They said they will incorporate the company in Brazil.
Petrobras said the largest of the new contracts, valued at 3.4 bn reais, is for construction services for two delayed coking units and related facilities. It went to combine of Construcoes e Comercio Camargo Correa and CNEC Engenharia.

A combine of Odebrecht Plantas Industriais e Participacoes and Construtora OAS received a 3.19-bn real contract covering diesel and naphtha hydrotreaters and hydrogen units. A contract valued at 1.48 bn reais for construction of two atmospheric distillation units went to the Odebrecht-Construtora combine.
A fourth contract, valued at 649 mm reais, was signed with a combine of Cia. Nacional de Dutos and Egesa Engenharia for work related to product receipt and shipment pipelines.

The other contract is for civil infrastructure services.
Valued at 120 mm reais, it went to a combine of Construcap CCPS Engenharia e Comercio and Projetos Gerenciamento e Engenharia.

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