Brazil's Petrobras could be set to open competing commercial bids from Japan's Modec and Belgium's Exmar next week for the Buzios-5 floating production, storage and offloading vessel after ruling a third contender out of the contest.

Well-informed sources told Upstream that Malaysia's MISC was disqualified on technical grounds, narrowing down the number of contestants fighting for the floater to just two.

Petrobras’ bidding committee concluded the technical assessment of the offers submitted by the trio on 7 June, resulting in the disqualification of MISC, sources said, adding commercial proposals will likely be opened early next week.