QGEP announces contracting of subsea equipment for Atlanta EPS

Consortium of McDermott International and General Electric selected to provide subsea equipment

Rio de Janeiro, April 06, 2015 - QGEP Participações S.A. (BMF&Bovespa: QGEP3, "Company", "QGEP") announced today that it has selected a consortium of two leading technology companies, McDermott International Inc. ("McDermott") and General Electric Co.("GE") to provide certain subsea equipment for the Atlanta Early Production System (EPS).

Under the terms of the contract, McDermott will be responsible for the engineering and installation of all subsea hardware, including flexible pipes, umbilicals and other equipment. General Electric will be responsible for the supply of all flexible risers, flowlines and associated equipment.

Located in Block BS-4 in the Santos Basin, the Atlanta Field has estimated 1P and 2P reserves of 147 million bbls and 191 bbls of oil, respectively, according to an independent certification prepared by Gaffney, Cline & Associates. The Development Plan for the EPS calls for production to begin in mid-2016 at an initial capacity of 25kbbl per day.

"We are pleased to be working with these two world-class partners in the development of the Atlanta Field," said Danilo Oliveira, Production Director of QGEP. "The Atlanta EPS will be a technically sophisticated operation at a high quality field, and we are confident that both McDermott and GE will make significant contributions as we move towards first oil in 2016."

QGEP is the operator of Block BS-4, with a 30% participating interest.

For more information, please contact our Communications department:

Phone: 55 21 3509-5800
E-mail: qgep@qgep.com.br

Updated in  2015-04-10T16:01:31
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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