Azevedo & Travassos signs a R$298 million contract with Petrobras

(PN) Azevedo & Travassos announced the signing of a service provision contract with Petrobras through its wholly-owned subsidiary Heftos Óleo e Gás Construções S.A. . The scope of the agreement includes the provision of integrated industrial maintenance activities on oil platforms located in the Campos Basin.

The contract, signed under a unit price contract regime, has a total value of R$298.3 million and an initial execution period of 36 months. The possibility of extension for up to 24 additional months is provided for in a contractual clause, reinforcing the relevance of the partnership between the companies.

Last week, the Azevedo & Travassos group announced an important milestone in its corporate restructuring process. The subsidiary Azevedo & Travassos Energia S.A. received approval from the Brazilian Securities and Exchange Commission (CVM) to convert its registration as a publicly-held company from category B to category A. The registration is a fundamental step towards listing the subsidiary’s shares on the capital market, on the B3 stock exchange.