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Samsung, Hyundai and Daewoo to compete to platforms of Petrobras

Samsung, Hyundai and Daewoo to compete to platforms of Petrobras

Three consortiums including Asian shipyards are planning to bid to build the first two in-house platforms of the Brazilian state-controlled oil giant Petrobras in more than seven years.


Samsung Heavy Industries Co, Daewoo Heavy Industries & Machinery Ltd, and Hyundai Heavy Industries Holding Co Ltd have formed separate consortia that are expected to bid after seven months of preparations, the sources said, declining to be identified because the data is private.

On Monday, February 1, Samsung and Petrobras refused to comment. Offers are due. Daewoo and Hyundai did not respond to requests for comment immediately.

As a main customer for Asian shipyards, the rivalry marks Petrobras' return. One of the sources said that similarly sized units had previously cost approximately $1.7 billion each to build.

As Petroleo Brasileiro SA is established, Petrobras needs units each capable of producing 180,000 barrels per day of oil and 7.2 cubic meters of gas for its large Buzios field, the country's second most active.

Huge ships with deep-water drilling equipment that are critical for offshore oil exploration are essentially the platforms.

Over the past two decades in Brazil, the controversy over where Petrobras can develop its platforms has been a central topic in presidential campaigns.

The design of the hull is labor-intensive, leading to the development of domestic content rules by past administrations. Those were eased after a corruption scandal, but once a winner is picked, the exact percentage of local content can only be understood.

Brazil's largest corruption investigation ever, known as Car Wash, uncovered Petrobras suppliers' multi billion-dollar bribe payments aimed at winning contracts, including for platform construction in Brazil and Asia.

Petrobras has only leased its platforms for more than seven years, using long-term contracts that can be amortized for over 20 years.

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