Contract should generate $ 80 million in revenue in the first four years, with optional extension of one year
Weatherford and Petrobras have signed an optional four-year contract to provide drilling pipe risers (DPR) and other services. The contract is expected to generate $ 80 million in revenue in the first four years. The document will replace a current five-system, which began in May 2009.
Weatherford has drilling pipe risers in Brazil since 2003. The company has 16 DPR systems currently working on three separate contracts with Petrobras in the Santos and Campos basins.
“We are betting on the improvement of the deepwater market, especially the Brazilian market, where we expect to continue our partnership with Petrobras,” said Mark A. McCollum, CEO of Weatherford.
The DPR is responsible for the interconnection of the column hanger, the wet christmas tree (ANM), the tree cover and the surface installation tools.