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    Conversion furore erupts in Brazil over P-50

    News // August 1, 2003
    Fairplay (www.fairplay.co.uk) reports that Brazil's controversial conversion of VLCC Felipe Camarao to FPSO P-50 for Petrobras has created new headlines because of soaring project costs.

    Fairplay said Singapore's Jurong Shipyard, awarded the $244M conversion contract a year ago, is reported to have asked for another $50-60 million to cover hullmodifications requested by the state-controlled oil company.

    The additional costs would push the overall figure for the entire P-50 project as high as $560 million, including $252 million for topside modules.

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