Brazilian offshore contracts for FELS

FELS Setal secured a USD 14 million contract from Halliburton Produtos Ltda, a subsidiary of Kellogg Brown & Root Inc., for the fabrication of four manifold modules, to be used for the Caratinga and Barracuda Fields in Campos Basin, offshore Brazil. Two each the four manifold modules are for Petrobras P-48 and P-43 FPSOs, which are expected to work in the Caratinga and Barracuda Fields respectively. The contract also entails the prefabrication and erection of riser pipes, lay down areas, flare booms and central pipe racks. FELS Setal’s Niteroi Yard in Rio de Janeiro will undertake the construction of the modules and riser pipes, while Brasfels Yard in Angra dos Reis will carry out the rest of the work. Halliburton is responsible for the USD 2.5 billion development of the production facilities for the Caratinga and Barracuda Fields in the Campos Basin. The fields are expected to come online in December 2003.

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