FPSO Cidade de Paraty starts first oil production at Lula Field, in the Santos Basin

  FPSO Cidade de Paraty starts first oil production at Lula Field, in the
  Santos Basin

Business Wire

LUXEMBOURG -- June 12, 2013

QGOG Constellation S.A. (“QGOG Constellation”) and its subsidiary Queiroz
Galvão Óleo e Gás (“QGOG”) are pleased to announce that upon completion on
June 10th, 2013 of a 72 hour continuous production test run, the FPSO Cidade
de Paraty is now on hire effective June 7th, 2013 and operational at the Lula
field, in the Santos basin, for a consortium formed by Petrobras S.A.
(operator), BG E&P Brasil Ltda. and Petrogal Brasil S.A. The FPSO is the
result of a partnership with SBM Offshore, Itochu and Nippon Yusen Kabushiki
Kaisha. The unit was delivered in line with expectations and the first oil
production occurred within the time scheduled by the consortium.

Cidade de Paraty, with capacity to process 120 thousand barrels of oil per day
(bpd) and 5 million cubic meters of natural gas per day, is one of the most
modern FPSOs in the world. QGOG’s technical staff participated in the
commissioning phase and are also participating in the operation of the unit
under a 20-year contract.

About QGOG Constellation

QGOG Constellation is a market leading Brazilian-controlled provider of
offshore and onshore oil and gas contract drilling and FPSO services in Brazil
through its subsidiary Queiroz Galvão Óleo e Gás S.A. (QGOG). With continuous
operations since 1981, QGOG has built an unmatched reputation for excellence
in offshore and onshore drilling services, obtaining ISO 9001, ISO 14001 and
OHSAS 18001 certification for its quality management, environmental and safety
records and systems.


Media Relations:
Farrell Kramer, MBS Value Partners
Phone: +1 212-710-9685
E-mail: farrell.kramer@mbsvalue.com
Investor Relations:
Phone: +352 20 20 2401
E-mail: ir@qgogconstellation.com
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