Oceaneering International said that its subsidiary Marine Production Systems do Brasil has bagged a contract from Brazilian national oil company Petróleo Brasileiro (Petrobras) to supply drill pipe riser (DPR) systems.
The $50m worth contract, which is to support intervention and completion operations in Brazil for Petrobras, will be for four years with a one-year optional extension period.
As per the contract terms, Oceaneering will deliver and operate three DPR systems with installation workover control systems (IWOCS) in addition to providing project management, engineering and support services.
The US-based subsea engineering and applied technology company said that it will manufacture the associated umbilicals for the DPR systems at its Niteroi facility in Brazil. Oceaneering will commence construction of the DPR systems and the assets in the third quarter of this year.
The company expects work under the contract to begin in the third quarter of 2019.
Oceaneering president and CEO Roderick A. Larson said: “We are excited by this Petrobras award and the opportunity to expand our portfolio of service and product offerings in the growing Brazilian market.
“This award draws on our innovative capabilities and core competencies, including our expertise in control systems and umbilicals for the subsea industry, and demonstrates our ability to grow into adjacent markets. We look forward to supporting Petrobras in connection with this and future projects.”
Headquartered in Houston, Texas, Oceaneering provides engineered services and products across the world, mainly catering to the offshore energy industry, with a focus on deepwater applications.
Earlier this month, the company said that one of its subsidiaries won a contract from Norwegian oil and gas giant Equinor to supply a resident, battery-powered electric remotely operated vehicle (E-ROV) system for carrying out subsea inspection, maintenance and repair activities.
The E-ROV system is expected to be used in water depths up to 1000m on the Norwegian Continental Shelf with Oceaneering to start the contract-related work in early December.