Petrobras reaches deal with Modec for Libra platform

Modec

18/12/2017 12:58

RIO DE JANEIRO, Dec 18 (Reuters) - Brazil's Petroleo 
Brasileiro SA  PETR4.SA  has closed a deal with Japan's Modec 
Inc  6269.T , which will build and operate a platform for oil 
production in the nation's Libra block, the state-controlled 
energy company said on Monday.  
    The company, known as Petrobras, did not disclose the cost 
but said Modec would operate the platform, which will link up to 
17 wells, for 22 years. 
    The floating production, storage and offloading unit will 
process up to 180,000 barrels per day of oil and 12 million 
cubic meters of gas, Petrobras said. Production is forecast to 
begin in 2021.  
    The vast Libra field was the first block of Brazil's coveted 
offshore pre-salt region to be auctioned off in 2013.  
    In November, Petrobras said the field's northeast section 
was ready to produce commercially and had proven reserves of 3.3 
billion barrels. The company named the section Mero. 
 urn:newsml:reuters.com:*:nL1N1O02QP 
    Petrobras owns 40 percent of the Libra project, with 
Anglo-Dutch Shell Plc  RDSa.L  and France's Total SA  TOTF.PA  
each owning 20 percent. Chinese state oil companies CNOOC Ltd 
 0883.HK  and China National Petroleum Corp each hold 10 
percent. 
 
 (Reporting by Alexandra Alper; Editing by Lisa Von Ahn) 
 ((Alexandra.Alper@thomsonreuters.com ; +5521-98221-9827 ; 
Reuters Messaging: 
alexandra.alper.thomsonreuters.com@reuters.net - https://twitter.com/alexalper?lang=en)) 
 
Keywords: PETROBRAS MODEC/