Petróleo Brasileiro (Petrobras) has signed a $1.7bn deal with a consortium of Brazilian industrial construction companies Odebrecht, OAS and UTC Engenharia for the hull conversion of a Very Large Crude Carrier (VLCC).

It is part of the plan to convert four Very Large Crude Carrier (VLCC) vessels into four oil platforms; P-74, P-75, P-76 and P-77.

The vessel conversion work will be carried out in the Inhaúma shipyard in the state of Rio de Janeiro, Brazil.

The shipyard has already been leased by Petrobras and is being remodelled to meet the company’s demands.

Each of the platform vessels planned for conversion will have the capacity to produce up to 150,000 oil barrels per day and compress 7 million m³ of natural gas per day.

After delivery, the platforms will operate in the Franco and Nordeste de Tupi prospects, located in the pre-salt area of the Santos Basin, off the coast of south east São Paulo, Brazil.

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By GlobalData

Work on the project is expected to commence in June this year, with conversion of the hull of the first vessel, P-74 scheduled to be concluded in March 2014.

The conversion of the P-75 hull is scheduled to be completed in October 2014 while the P-76 and P-77 hulls are expected to be completed in 2015.

After the conversion of the hull, the vessels will be installed with oil and gas processing and production plant modules, and the units will be fully integrated, which involves their installation in the hulls.

This work will be carried out at a different location and agreement in this regard is expected to be signed by April 2013.