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    IHC Caland wins FPSO lease and operate deal from Petrobras

    News // January 17, 2003
    IHC Caland NV has announced that it has won a new large FPSO lease and operate contract from Petrobras.

    A Letter of Intent has been received by its wholly owned subsidiary Single Buoy Moorings (SBM), for a complex unit to be installed on Marlin South field in Campos Basin, Brazil.

    The LoI authorizes commencement of the work to meet a first oil objective in mid-2004 and is based on a 94 months lease period commitment.

    The FPSO will be built from a converted VLCC tanker (270,000dwt) which SBM had purchased in advance for that purpose; it will be similar in size and complexity to both previous FPSOs already delivered and operating on Espadarte and Roncador fields.

    The unit will feature a large weathervaning turret and will be capable to process 100,000 bopd of crude oil production and 81 mmscfd of gas compression. The produced gas will be exported through Campos Basin pipelines. The process plant will include gastreatment and compression, water injection and sulphate removal facilities.

    The contract is worth in excess of $500 million.

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