March 29, 2018 / 12:53 PM / a month ago

Petrobras signs $587 million agreement to build gas processing unit

SAO PAULO (Reuters) - Brazilian state-controlled oil company Petróleo Brasileiro SA has signed a 1.95 billion real ($587.2 million) contract to build a natural gas processing unit in Rio de Janeiro state, according to a securities filing on Thursday.

The logo of Brazil's state-run oil company Petrobras is pictured in the company headquarters in Sao Paulo, Brazil February 20, 2018. REUTERS/Paulo Whitaker

Petrobras, as the company is known, will begin construction in the second half of 2018, with operations scheduled to begin in the second half of 2020. The unit, located in the city of Itaboraí, will hold a capacity of up to 21 million square meters per day, the statement said.

($1 = 3.3206 reais)

Reporting by Bruno Federowski

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