Prysmian Group was awarded a major contract worth approx. USD 260M, related to a frame agreement for Umbilical products for offshore oil and gas extraction, by Brazilian oil company Petrobras.
The award refers to a frame agreement for 360km of Umbilicals, most of it to be used in pre-salt fields, in 16 different cross sections and related ancillaries, offshore services and qualifications, worth approximately USD 260M with 50% minimum purchasing commitment and call-off orders to be placed within a two-year period.
Petrobras also extended the existing frame agreement for flexible pipes to 2016. This agreement is worth a total of USD 95M of which USD 20M have already been called off for the Macabu, Jubarte and Marlim Leste fields.
Both the Umbilicals and the Flexible Pipes for the new contracts will be manufactured in the Prysmian’s plants in Vila Velha, Brazil dedicated to Subsea Umbilicals, Risers and Flowlines (SURF).
“The partnership with Petrobras has represented a major step forward for Prysmian in expanding its business in the Oil Gas & Petrochemicals industry, confirming the Group’s strategic commitment to investing in value-added, high-tech businesses requiring specialist know-how” jointly declare Prysmian Group CEO Valerio Battista and Prysmian Brazil CEO Armando Comparato Jr.