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Oceaneering sees demand for thermoplastics in Brazil

10/29/18

 Despite Petrobras’ moves to use steel umbilicals (STUs) in its upcoming pre-salt projects, Oceaneering still sees market potential for thermoplastic lines in the country.

“Brazil is our center of excellence for the production of thermoplastic hoses and umbilicals, and there is a lot of work being done there. We still see demand, “the company’s CFO Alan Curtis said during a conference with analysts.

The executive recalled that the plant in Niterói (RJ) will produce umbilicals associated with a drill pipe risers (DPR) system contract signed this year with Petrobras and added that the plant will eventually provide equipment for ventures abroad.

Oceaneering reported a loss of $ 66 million in the third quarter, compared to a loss of $ 1.8 million in the same period last year. The company earned US $ 520 million between July and September, up 10% year-on-year.

Source: Brazil Energy

Categories: Uncategorized

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