Petrobras Awards Subsea Supply Contract to Dril-Quip (Brazil)

Dril-Quip, Inc. today announced that Dril-Quip do Brasil LTDA, its wholly owned subsidiary, has been awarded a four-year contract by Petrobras, Brazil’s national oil company, for the supply of subsea wellhead systems and associated tools to be used in the drilling of deepwater wells offshore Brazil.

Based on current exchange rates and after Brazilian taxes, the contract is valued at $650 million if all of the equipment under the contract is ordered. Amounts will be included in Dril-Quip’s backlog as purchase orders are received under the contract. Dril-Quip expects to begin delivering products under the contract in the second half of 2013.

The contract is subject to customary terms and conditions for agreements of this type, including termination, extension, product inspection, local content requirements and price adjustment provisions.

Dril-Quip is a leading manufacturer of highly engineered offshore drilling and production equipment, which is well suited for use in deepwater, harsh environment and severe service applications.

Press Release, August 23, 2012

Share this article

Follow Subsea World News

Events>

<< Jan 2017 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Oil & Gas IP Summit

The conference will cover areas like Evaluating Best Practice Techniques for IP Portfolio Management and Innovation Strategies,Collaborative…

read more >

European Gas Conference 2017

In recent years the gas market has undergone tremendous shifts with the emergence of new supply sources, the comeback of coal in the power…

read more >

Well Control – Subsea Engineer Programme

The Training Academy’s IADC accredited Subsea Engineer Programme (SSEP) has been recognized by the industry’s major drilling contractors…

read more >

Offshore West Africa 2017

Offshore West Africa 2016 brought together a record-breaking attendance of oil & gas professionals, creating a vibrant networking experience,…

read more >