Brazil counts on FPSO to boost oil production
Add BT as a preferred source[RIO DE JANEIRO] An oil production ship sailed from Rio de Janeiro en route for a Brazilian offshore oil field owned by Brazil's state-run Petrobras, Britain's BG Group plc and a joint venture between Spain's Repsol SA and China's Sinopec, Petrobras said on Wednesday.
The ship, known as the Cidade de Ilhabela, is expected to begin operations by the end of the year in the Sapinhoa offshore field in the BM-S-9 block south of Rio. It is more than a year behind schedule, and Petroleo Brasileiro SA - as Petrobras is formally known - is counting on the vessel to help boost production and revenue after five years of stagnating output.
The floating production, storage and offloading ship, or FPSO, is being leased from the Netherlands's SBM Offshore NV and Brazil's Queiroz Galvao Oil and Gas, Petrobras said in a statement.
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