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Houston, TX: Petrobras Awards Subsea Supply Contract to Dril-Quip (Brazil)

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.

Subsea World News – Petrobras Awards Subsea Supply Contract to Dril-Quip (Brazil).

USA: FMC Technologies Wins Two Spotlight on New Technology Awards at OTC

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FMC Technologies, Inc. announced that it has been named the recipient of two Spotlight on New Technology awards by the Offshore Technology Conference (OTC). The awards, which honor innovative technologies that significantly impact offshore exploration and production, recognize FMC’s subsea processing systems designed for Total’s Pazflor field and Petrobras’ Marlim field.

“We are honored to be recognized by OTC for a third consecutive year with these prestigious awards,” said John T. Gremp, Chairman, President and Chief Executive Officer of FMC Technologies. “This is a significant accomplishment for our employees and for our industry-leading subsea processing systems.”

The Pazflor field is the world’s first use of subsea separation and boosting in a new subsea field that will produce two grades of oil (light and heavy). This technology enables economic development of the reservoir where the use of a conventional subsea production system was not feasible. Pazflor is located offshore Angola, and began production in August of 2011 at water depths up to approximately 4,000 feet (1,200 meters).

The equipment for the Marlim field is a step-change in the evolution of subsea processing. It is the industry’s first use of oil and water separation technologies in deep water, and it is the first subsea system to separate heavy oil and water. The Marlim equipment is also the first to reinject separated water back into a subsea reservoir to boost production. The Marlim system was installed offshore Brazil in November of 2011 in water depths of approximately 2,950 feet (900 meters). It is designed to extend the life of this mature oil field, which began production over 30 years ago and was once the largest subsea development in the region.

FMC will receive both awards during a ceremony and press conference at 4:00 p.m. CDT on Monday, April 30, in the Rotunda area of the Reliant Center in Houston, Texas.

FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World’s Most Admired Oil and Gas Equipment, Service Company in 2010, the Company has approximately 14,200 employees and operates 27 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry.

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Shell Awards Subsea 7 with Two Gulf of Mexico Contracts

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Subsea 7, a major player in seabed-to-surface engineering construction, and services, today announces the award of two engineering and installation contracts from Shell for the Cardamom and West Boreas Projects in the Gulf of Mexico.

Subsea 7’s scope of work on West Boreas is the installation of a 6,096m (20,000ft) long umbilical as well as subsea distribution hardware for the field. Installation will occur in water depths up to 959m (3,146ft) in the Mississippi Canyon block area.

On the Cardamom Project, Subsea 7 will install a 9,266m (30,400ft) long umbilical plus subsea distribution hardware for the field in depths up to 914m (2,999 ft) in the Garden Banks block area.

The project management and engineering for Shell’s projects will take place from Subsea 7’s Houston office. Subsea 7’s construction vessel the Skandi Neptune will be used on both projects.

Ian Cobban, Subsea 7’s Vice President for the Gulf of Mexico, said: “We are very pleased to have been awarded these contracts by Shell, which build upon our strong track record in the deepwater subsea construction market in the Gulf of Mexico.”

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