Brazil: DeepOcean Secures USD 60 Million Contract from Petrobras

DeepOcean AS, part of DeepOcean Group Holding AS, announced the award of a two year contract valued at approximately $ 60 million from Petróleo Brasileiro S/A (“Petrobras”) E&P Services.

The contract includes management, engineering, maintenance and repair of flexible pipelines and electro-hydraulic umbilicals recovered from PETROBAS subsea installations in Brazilian waters.

The work will be carried out by DeepOcean’s Brazilian organisation. The company will provide its own vessel, which will undergo a project upgrade for the contract. Additionally, DeepOcean will provide one ROV-system, the repair spreads system and onshore local engineering expertise.

Preparations for conversion of vessel and start-up of the contract have already started. Offshore operations are due to commence second half 2012.

This contract award demonstrates the global expansion of one of the premier subsea services organisation. President of DeepOcean AS, Mads Bardsen, is excited to win the work for PETROBAS:

“We have the unique deepwater experience and expertise needed for Brazilian subsea operations. 90 per cent of PETROBAS reserves are nestled in deep waters which is our speciality. In 2007, DeepOcean was awarded its first long-term subsea services contract with PETROBRAS. With the award of this second contract in Brazil, we are well-positioned to further develop our strong position in this region,” says Bardsen.

Subsea World News Staff , January 16, 2012;  Image: DeepOcean

 

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UTC 2017

The subsea industry has, as all other parts of the oil & gas industry, been seriously rattled by the most severe downturn in the hydrocarbon energy era. However, the realization of what hit us and actions to be taken to sustain a healthy and profitable future is still on-going – unfortunately with thousands of colleagues paying the price by losing their job as one of the most severe consequences. At this time, there are signs that we have reached bottom in terms of most industry indicators, but few experts expect a sharp recovery. Many seem to believe that a slow recovery is what the industry needs in order to avoid an unsustainable capacity build-up, as seen in the period after the financial crisis. Considering the uncertainty of what the future will bring, this year’s UTC Program Committee have decided to challenge all of us to present ideas, experiences, technological innovations, business models and execution models for how to shape our subsea future and explain how and why subsea is the future.
UTC welcomes abstracts based on the topics listed below. If selected, please consider writing a paper in addition to the UTC presentation. From 2017, UTC papers will be published in an international database.

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