Cut Off-based Edison Chouest Offshore International submitted the low bid on the contract to build a docking area for Petrobras at the Acu port in the state of Rio de Janeiro, according to Bloomberg News.

Edison Chouest’s bid was $1.16 billion. But state-run Petrobras has yet to confirm Edison Chouest won the contract.

Ricardo Chagas, head of Latin America at Edison Chouest, told Bloomberg Petrobras has seven days to notify bidders of the results from the Nov. 17 auction.

Signing a contract could take up to 60 days, he said.