BW Offshore Prepares Bid for Two Petrobras Projects

* Floating oil production, storage and offloading (FPSO) firm BW Offshore is bidding on contracts for the Libra 1 and Sepia oilfields offshore Brazil

* CEO Carl Arnet says expects to deliver tenders to Petrobras on Libra I in December and on Sepia in January

* CEO Arnet expects first award in first half 2017 and the second one shortly after

* CEO says contract length 21 and 20 years

* CEO says will base bids on conversion of the FSO (floating storage offloading) unit Belokamenka, which is currently in lay-up

* CEO says aim is to win one of the two contracts

* CEO says Brazil likely to represent the sole new demand for FPSOs globally in 2017

* CEO says apart from the Libra I and Sepia tender, probably two more Petrobras FPSO tenders will come to the market in 2017

* CEO says the biggest optimists expect another two FPSO tenders from Petrobras on top of that

* CEO says in total Petrobras has announced it will have use for additional 11 FPSOs in coming years, including Libra I, Sepia

* BWO Offshore currently has a fleet of 14 FPSOs, 2 operated FPSOs, one FPSO project under construction and 1 FSO

* Three units are currently in lay-up and another one will be in lay-up from spring 2017

(Reporting By Ole Petter Skonnord, editing by Terje Solsvik)