Petrobras aims for first quarter sanction

Due date: Jose Sergio Gabrielli-led Petrobras may take FID on FLNG unit in Q1

Brazil’s Petrobras is aiming to take a final investment decision in the first quarter of next year on its proposed floating LNG production unit.

Chief executive Jose Sergio Gabrielli said at the World Petroleum Congress that the company aims to build the unit after 2015.



Petrobras and junior partners BG Group, Repsol-YPF and Galp had been expected to take FID this year but the government-controlled oil and gas company dealt the timeline a blow with an announcement that the project was on hold.



Gabrielli said the project is aimed at adding flexibility to its associated gas production plans on the company’s pre-salt fields.



(Click here to read other stories from the 2011 World Petroleum Congress in Doha.)

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