OSX to build Petrobras rigs and tankers

16 Sep 2010

OSX Brasil SA, which is building a shipyard in Brazil with South Korea’s Hyundai Heavy Industry, said that it plans to bid for oil drilling rig and tanker contracts worth $2 billion that Brazil’s Petrobras wants to build.

OSX, which already plans to build 48 ships and platforms for sister-company OGX Petroleo e Gas, Brazil's second-largest oil exploration group, plans to have spare capacity to build vessels for third parties when its $1.7 billion yard starts cutting its first steel in 2012. Both OSX and OGX are controlled by the Rio de Janeiro's EBX energy, mining and transportation group.

Hundai owns 10% of the OSX shipyard project, which will be built at EBX’s port of Acu in Rio de Janeiro or near Florianopolis, Brazil, and aims to become the biggest shipbuilder in the country. A decision on the site is expected by the end of the year, with construction of the shipyard starting in early 2011. The yard expects to deliver its first vessel, a FPSO vessel, in late 2013 or early 2014. It is building two other FPSOs in Singapore and seeking bids in Brazil for two wellhead fixed platforms from other yards for delivery in 2011 and 2012.

It is also is seeking to build two deepwater drill rigs for Petrobras and up to four products tankers for a Petrobras-backed project known as Cia. Brazileira de Navegecao. The Brazilian oil industry expects to place orders for more than 400 ships, including platforms, drill-rigs and support vessels over the next decade, and these will have to be built at least partly in Brazil to meet the local content rules.

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