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Wood Group to Operate and Maintain FPSO

Posted on September 14, 2005

A subsidiary of John Wood Group PLC ("Wood Group") has been contracted by Sevan Marine to provide operations and maintenance (O&M) for the SSP Piranema floating, production, storage and offloading (FPSO) vessel, which will be operated for Petróleo Brasileiro S.A. - Petrobras on the Piranema field, offshore northeast Brazil. The five-year, extendable contract is valued at approximately US$7 million per year.

Wood Group Engineering and Production Facilities will have complete responsibility for O&M management and execution, including onshore technical, logistical and supply chain support, and for the operational efficiency and performance of the SSP Piranema. This innovative FPSO will be the first implementation worldwide of Sevan Marine¿s unique Sevan Stabilized Platform (SSP) cylindrical mono-hull design. The SSP Piranema is designed to accommodate 30 000 BOPD process plant capacity, a gas injection plant with compression capacity of 3.6 million cubic meter per day, and oil storage capacity of 300 000 barrels, and will be prepared to receive up to 21 risers.

Wood Group is providing a number of support services during the design and construction phase, including operations and process engineering support to review the topsides design, and is participating in hazardous operations reviews. Additional support is expected to be provided during the pre-operations and commissioning phases of the project. Day-to-day operations and maintenance of the SSP Piranema will require approximately 60 full-time personnel, 95% of whom will be Brazilian nationals.

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