Weatherford Awarded 10K DPR Intervention Services Contract with Petrobras

Rhea-AI Summary

Weatherford International plc (NASDAQ: WFRD) has secured a five-year contract with Petróleo Brasileiro S.A. (Petrobras) in Brazil to provide Drill Pipe Riser (DPR) ultra deepwater offshore intervention systems and services. The contract, commencing March 2025, will replace a current six-system contract and will incorporate Weatherford's industry-leading Intervention Workover Control Systems (IWOCS) and cutting-edge digitalization solution, the Centro™ well construction optimization platform. Weatherford President and CEO, Girish Saligram, expressed satisfaction in winning another Petrobras contract, emphasizing the strength of their Brazilian operations and the opportunity to extend the productive life of Petrobras' assets.

HOUSTON, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (the "Company" or "Weatherford") today announced it has been awarded a five-year contract with Petróleo Brasileiro S.A. ("Petrobras") in Brazil, after a competitive tender, to provide Drill Pipe Riser (DPR) ultra deepwater offshore intervention systems and services. This new seven-system contract will commence operations March 2025 and will replace a current six-system contract that began in November 2020.

Weatherford's industry-leading Intervention Workover Control Systems (IWOCS) provide holistic answers for tasks such as tubing-string or tubing-hanger installation, well testing and appraisal, spool-base, and both vertical and horizontal Christmas tree installation. Additionally, these systems cater to wellhead-tree cap installation, well-intervention operations with workover blowout preventer, and oil or gas production for early well tests. To elevate this comprehensive solution, Weatherford is incorporating its cutting-edge digitalization solution, the Centro™ well construction optimization platform, offering exceptional operational visibility and performance.

Girish Saligram, Weatherford President and CEO, commented, “We are pleased to win another Petrobras contract. Weatherford has experience in subsea intervention services to extend the productive life of its assets and this contract, combined with the offshore intervention services contract announced in July 2023, highlights the strength of our Brazilian operations. We look forward to continuing our longstanding partnership with Petrobras.”

About Weatherford

Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company operates in approximately 75 countries and has approximately 18,000 team members representing more than 110 nationalities and 335 operating locations. Visit weatherford.com for more information and connect with us on social media.

For Media
Kelley Hughes
Sr. Director, Corporate Communications and Employee Engagement
Media@weatherford.com     

 

FAQ

What is the latest contract secured by Weatherford International plc (NASDAQ: WFRD)?

Weatherford International plc (NASDAQ: WFRD) has secured a five-year contract with Petróleo Brasileiro S.A. (Petrobras) in Brazil to provide Drill Pipe Riser (DPR) ultra deepwater offshore intervention systems and services.

What is the duration of the new contract with Petrobras?

The new contract with Petrobras is for a duration of five years, commencing operations in March 2025.

What is the significance of Weatherford's Intervention Workover Control Systems (IWOCS) in the new contract?

Weatherford's industry-leading Intervention Workover Control Systems (IWOCS) will provide holistic solutions for tasks such as tubing-string or tubing-hanger installation, well testing and appraisal, spool-base, and both vertical and horizontal Christmas tree installation.

What digitalization solution is Weatherford incorporating into the new contract with Petrobras?

Weatherford is incorporating its cutting-edge digitalization solution, the Centro™ well construction optimization platform, offering exceptional operational visibility and performance.

What is the CEO's comment on winning the Petrobras contract?

Weatherford President and CEO, Girish Saligram, expressed satisfaction in winning another Petrobras contract, emphasizing the strength of their Brazilian operations and the opportunity to extend the productive life of Petrobras' assets.