Aker Solutions Pens Frame Agreement with Petrobras

Aker Solutions has entered a frame agreement with Petrobras to provide subsea equipment for the oil company's deepwater pre-salt field developments in Brazil. The contract value is approximately $800 million (NOK 4.6 billion).

The scope of work is for 60 well-sets with vertical subsea trees, subsea control systems, tools and spares within the 2014-2018 period.

"Aker Solutions is honoured to work with one of the world's leading deepwater operators. This long-term agreement confirms our partnership with Petrobras and reflects our dedication to the Brazilian market," said Øyvind Eriksen, executive chairman of Aker Solutions.

Petrobras will deploy the 60 well-sets in the pre-salt field developments located 186 miles (300 kilometers) off the São Paulo coast in the Santos Basin.

"We are committed to developing the subsea industry in Brazil by growing our Brazilian expertise supported by our international competence network," said Luis Araujo, president and country manager of Aker Solutions in Brazil.

Aker Solutions has decided to further invest and expand in Brazil due to the $800 million-frame agreement with Petrobras and market forecasts for the Brazilian oil and gas industry.

A new subsea manufacturing facility will be established in Curitiba in the state of Parana, 497 miles (800 kilometers) south of Rio de Janeiro. This new technology center will replace the current plant by 2015 and will employ approximately 1,100 people.

Only the first few well-sets within the new frame agreement will be manufactured at the existing plant, while the remaining well-sets will be assembled and tested at the new facility.

"We are continuing our efforts to establish large scale manufacturing capabilities based on the technologies developed for Petrobras during our first pre-salt projects. Our proven pre-salt technology gives Aker Solutions a strong position in this market, and this will be used to further enhance local content, such as subsea control systems. Aker Solutions has continuously invested in developing the know-how and expertise of its employees in Brazil," said Araujo.

Aker Solutions is also investing within other parts of the Brazilian offshore industry. Last year, the company announced that it will build a new multi-purpose service site for its drilling equipment business in Macaé, 112 miles (180 kilometers) northeast of Rio de Janeiro, significantly expanding its capacity to serve the country's fast-growing drilling market. This site will be Aker Solutions' fourth facility in Brazil, in addition to sites in Rio das Ostras, Curitiba and Rio de Janeiro.


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