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Oceaneering Signs New Contract With Petrobras and Predicts Growth for the Next 5 Years in Brazil

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In the gradual resumption of the oil and gas sectornews of new closed businesses are beginning to emerge more frequently. This time, Oceaneering was able to sign a DPR (Drill Pipe Riser) contract with Petrobrás to complete oil wells. “The entire team is very well involved in this project and we are very happy to have won this contract, which is very expressive,” said Daniel Nogueira, manager of the company’s Service, Technology and Rental unit. The mobilization deadline will be up to 14 months and Oceaneering must make an investment of about $ 45 million during the execution of the contract. In addition, Nogueira reveals that the company must make at least 60 direct signings to meet the demand of the new service. “All the divisions that we have in Brazil are working on some contract or competition.

I would like you to comment a little about the new contract that the company closed with Petrobrás.

This is a DPR contract. The scope covers completion of oil wells for Petrobrás. In this contract, which will last 4 years, we will provide three complete DPR systems. Over the last decade, we have researched and studied this technology a lot. The DPR, as it is made by Petrobrás, is unique in the world. This is a very specific technology for the state. So over the last few years, we’ve been studying a lot of ways to get into that market.

How important is this contract to the company’s plans in Brazil?

We are very happy to have won this contract and to contribute to a technological advance in this service. Over the years, DPR has been evolving, but we also believe we have the ability to add something better to this contract. Let’s invest in it. The entire team is well involved in this project and we are all very happy to have won this contract, which is very expressive for Oceaneering. Our board is very happy to have won this contract. First of all, we will execute this service by putting into practice our security policy, which is extremely important to the success of the company. Let’s take Petrobras’s completion part. There will be three systems to make the completions of 5 thousand PSI (pressure measurement).