Aker Wins Subsea Manifold Deal with Petrobras

Norwegian oilfield services firm Aker Solutions reported Thursday that it has won a $300 million-plus contract from Petrobras to supply eight manifolds that alternately inject water and gas to increase oil recovery from deep-water fields offshore Brazil.

The subsea manifolds, designed for water depths of more than 8,200 feet, will be installed by Petrobras and its partners in deep-water pre-salt field developments. Having a design life of 30 years, the first will be delivered in 2016.

The order will be executed by Aker's Brazilian subsea division, with about 70 percent of the contract being procured and manufactured in Brazil.

Aker Executive Chairman Øyvind Eriksen commented in a company statement:

"We are pleased to work with Petrobras on its important and technically challenging pre-salt developments. Brazil is a key market for our subsea technology and one of the fastest-growing areas in the oil and gas industry."

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