The Papa Terra Joint Venture, consisting of Petrobras (operator) and Chevron, has concluded the contracting and negotiation process with the consortium of BW Offshore and the Brazilian industrial group QUIP for the FPSO P-63 for the Papa Terra field. Letter of Intent was signed yesterday, while sanction of the project will occur at a later date.

BW Offshore intends to use the ULCC BW Nisa for this project.