SBM-Led Group Wins $3.5B Petrobras Oil Services Contract

Law360, New York (March 26, 2013, 4:51 PM EDT) -- A consortium led by Dutch offshore energy services contractor SBM Offshore NV has secured a $3.5 billion contract — SBM's largest ever — to build and operate two oil platforms at a Petroleo Brasiliero SA-owned field off the coast of Brazil, SBM said Tuesday.

The Brazilian energy giant, better known as Petrobras, owns a 65 percent controlling interest in the Lula field in the Atlantic Ocean. The firm and its partners in the project will pay the SBM group to construct and install two floating production,...
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