Flexlife Inks MOU with Petrobras

Flexlife has signed a Memorandum of Understanding with Petrobras to develop and provide a new integrity management system and specialized engineering services for its international oil and gas projects offshore.

The agreement – Flexlife's first work in South America - was reached during the recent OTC Brasil exhibition in Rio de Janeiro. It includes the provision of Flexlife's ground-breaking subsea products and services to maintain and extend asset life and is the company's biggest deal to date.

Flexlife Chief Executive Stuart Mitchell said, "This agreement results from Flexlife developing a strong presence in Brazil and we anticipate playing an important role in addressing the challenges of delivering safe production of oil & gas in the deepwater fields. We have a team of engineering, technical and support staff who are all highly experienced in the Brazilian Oil & Gas market and all of us are very proud to be working with Petrobras. The potential is enormous for us and it is very significant for the future of Flexlife."

As well as investing in new office accommodation in Rio de Janeiro at Rua Assembleia, Flexlife is manufacturing its ground-breaking integrity management products locally and offering a full assembly, deployment and maintenance service by staff based in the region. It has a team of six based in Rio and numbers are expected to increase steadily following the MOU.

Mr. Mitchell added, "Flexlife has continued to build on its reputation for offering a full subsea integrity and project management package, assisting clients to cost-effectively manage all of their subsea assets and infrastructure. We have built up high levels of expertise in deepwater markets and have a proven track record of providing a service that helps operators reduce risk in a cost-effective manner – all of which helped us reach this agreement with Petrobras."

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