Weatherford Wins Drill Pipe Riser Contract from Petrobras

Weatherford International

Weatherford International's Brazilian operations, based in Rio de Janiero, has been awarded a five year contract worth approximately $87 million by Petrobras.

Weatherford will provide drill pipe riser (DPR) intervention systems and services to be used for installation and intervention in subsea wells within the Espirito Santos Basin.

This latest award further strengthens Weatherford's relationship with Petrobras for the provision of DPR Systems, which dates back to 2003 when Weatherford first entered this market. Weatherford currently has four DPR systems under contract to Petrobras.

Since 2003, Weatherford has made significant investment towards establish itself as the industry leader for DPR intervention systems. This response was client-driven, challenging Weatherford to expand its existing core capabilities into the DPR realm for the development of superior technology and services in the deepwater and ultra-deepwater arena.

"Winning this contract reinforces Weatherford's technology, services, personnel and excellent safety performance," commented Bernard J. Duroc-Danner, president and CEO of Weatherford. "Over the past three and a half years, our Brazilian operations has worked closely with Petrobras to develop our DPR systems and service operations. This collaboration has enabled us to exceed the initial performance objectives and establish new standards within the industry."

Weatherford is investigating the potential for application of the DPR technology in other deepwater markets around the world. This exciting opportunity is a result of the excellent teamwork between Weatherford's Brazil team in close cooperation with Petrobras.