Brazil's Petrobras said on May 10 it had signed a contract with Keppel Shipyard Ltd. to build its seventh platform to be known as P-78 in the Buzios Field.

The field is located in the Santos Basin off the coast of Rio de Janeiro.

Petrobras said the new platform will be delivered in 2024 and have the capacity to process 180,000 barrels of oil per day and 7.2 million cubic meters of gas per day.

The Buzios Field is considered the largest deepwater oil field in the world.