The total value of the EPC contracts is approximately $3.5bn, with net costs to BG Group of approximately $911m.
Upon final completion, each FPSO will have a production capacity of 150,000 barrels of oil per day (bopd) and approximately 212 million cubic feet of gas per day.
Six of the eight completed vessels will be allocated to block BM-S-11 containing the Tupi, Iracema and Iara discoveries and the remaining two will be allocated to block BM-S-9 containing the Guara and Carioca discoveries.
The completed vessels will be in addition to the first permanent 100,000bopd FPSO already in operation on Tupi and a further two 120,000bopd FPSOs due onstream on Tupi and Guara in 2013.
BG Group chief executive Frank Chapman said that the contract awards for the construction of eight FPSO hulls in Brazil adds further momentum and certainty to the rapid development of BG Group’s substantial interests in this world-class play.
