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    Halliburton and Petrobras in deepwater contract

    Projects and Operations // July 14, 2000
    Halliburton and Petrobras have signed contracts that will enable them to proceed with the development of the Barracuda and the Caratinga oil fields offshore Brazil.

    Under the contracts, worth more than $2.5 billion, Halliburton's Brown & Root Energy Services (BRES) and Halliburton Energy Services (HES) business units, and Petrobras' Exploration and Production unit, will undertake the work.

    The fields in question are in the Campos Basin in water depths of between 600m and 1,350m.

    The principal part of the contract is an Engineering, Procurement and Construction (EPC) contract between BRES and Barracuda & Caratinga Leasing Company BV (BCLCO), a company originally established by Japanese trading companies Itochu and Mitsubishi.

    Work was due to start this month. The EPC contracts relate to the construction of more than 50 wells, fabrication and installation of flowlines and risers, construction and installation of two FPSOs, and commissioning, start-up and support for both fields.

    The two FPSOs will have a storage capacity of 2 million barrels and a production capacity of 150,000 barrels a day.

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