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

sdf

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>

<< May 2015 >>
MTWTFSS
27 28 29 30 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

Aberdeen – Subsea Awareness Course

This five-day course has been designed to provide delegates with exposure to the latest subsea technology…

read more >

Fundamentals of Offshore Field Development

The course delivers the detailed knowledge required, along with management strategies, for you to successfully engage in the sector…

read more >

Fundamentals of Subsea Integrity & Reliability

The course is delivered by distance learning so it does not disrupt your work or home life, and is an invaluable introduction to this vital…

read more >

Offshore Inspection Short Course

The course structure is unique by providing delegates the opportunity of practical sessions in a professional development short course…

read more >