QGOG and Partners Sign Charter and Operation Contracts for the FPSOs Cidade de Maricá and Cidade de Saquarema

  QGOG and Partners Sign Charter and Operation Contracts for the FPSOs Cidade
  de Maricá and Cidade de Saquarema

Business Wire

LUXEMBOURG -- July 15, 2013

QGOG Constellation S.A. (“QGOG Constellation”) announces that Queiroz Galvão
Óleo e Gás S.A. (“QGOG”), together with its partners signed contracts for the
twenty year charter and operation of two FPSOs, Cidade de Maricá and Cidade de
Saquarema, with the Consortium BM-S-11, operated by Petrobras (65%), BG E&P
Brasil Ltda. (25%), and Petrogal Brasil S.A. (10%).

The FPSOs will be owned and operated by a Joint Venture company formed by
QGOG, SBM Offshore, Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha
(NYK Line).

Both units will operate in Lula field in the Santos Basin pre-salt area
offshore Brazil and will have similar specifications to FPSO Cidade de
Ilhabela, with a daily oil production capacity of 150,000 barrels per day
(bbl/d) and gas production capacity of 6.0 million cubic meters per day
(m³/d).

Planned delivery for FPSOs Cidade de Maricá and Cidade de Saquarema is
expected respectively by end 2015 and early 2016.

The total contract value for which the Joint Venture company will acquire the
two FPSOs is approximately US$ 3.5 Billion.

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.

Contact:

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