Brazil's state-run oil company Petrobras is pushing to develop offshore reserves, calling for funds for floating storage.
Petrobras is pursuing local private investment funds to provide at least 10 billion reais (3.68 billion), and wants local businesses to build 28 rigs and six floating production storage and offload (FPSO) terminals as part of a broad plan to invest some $174 billion by 2013 to develop the offshore reserves.
By the end of the year we should have 14 or 15 (funds), to help with the expansion of local industry, Petrobras business advisor Marcilio Miranda comments.
