Weatherford Wins $40 Million Petrobras Contract

Weatherford's Drilling & Intervention Services division has been awarded a $40 million contract by Petrobras to furnish and operate Drill Pipe Riser String, Hydraulic Umbilical Spools and all associated hydraulically controlled equipment for the installation and intervention of subsea Christmas trees in Petrobras' deepwater Albacore Leste field. The work will be handled out of Weatherford's base in Macae, Brazil. The estimated contract value for an initial 5-year period is $40 million.