Dril-Quip to Supply Subsea Systems to Papa Terra Field

Dril-Quip received a US $28 million contract from Petrobras for the supply of subsea wellhead systems for the Papa Terra oil field. Equipment deliveries are scheduled to begin during the first quarter of 2011 and will continue through the first quarter of 2013. The Papa Terra oil field (well 4-BRSA-2180-RJS) is located on the BC-20 Block in the Campos Basin in a water depth of 3,937 feet (1,200 meters). Petrobras serves as the operator of the giant oil field and holds a 62.5% interest; Chevron holds the remaining 37.5% interest.

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Brent Crude Oil : $54.94/BBL 0.88%
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