Weatherford Awarded Offshore Intervention Services Contract with Petrobras

Rhea-AI Summary

Weatherford International has been awarded a five-year contract to provide Intervention Services for Petrobras in Brazil. Weatherford will also provide its digitalization solution, the Centro well construction optimization platform.

Positive

• Weatherford International has been awarded a five-year contract with Petrobras, which could positively impact its stock price. The contract will allow Weatherford to provide Intervention Services in Brazil and utilize its state-of-the-art digitalization solution, the Centro well construction optimization platform.

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• None.

HOUSTON, July 12, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (the "Company" or "Weatherford") today announced it has been awarded a five-year contract to provide Intervention Services for Petróleo Brasileiro S.A. ("Petrobras") in Brazil.

Weatherford has performed Intervention Services in Brazil for more than 20 years in close cooperation with Petrobras to develop a comprehensive offering to address subsea intervention and commissioning. To further enhance this offering, Weatherford will provide its state-of-the-art digitalization solution, the Centro™ well construction optimization platform, which provides exceptional visibility and performance in operations. 

Girish Saligram, Weatherford President and CEO, commented, “We are very satisfied with the result of the bidding process with Petrobras. Our long history of collaboration to extend the productive life of Petrobras assets while reducing nonproductive time will be further enhanced through our cutting-edge digitalization offering. We look forward to a successful project and continuing our work together.”

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 with a global talent network of approximately 17,900 team members representing more than 110 nationalities and 345 operating locations.

Contacts
For Media:
Kelley Hughes
Weatherford International plc
Global Communications
media@weatherford.com

FAQ

What contract has Weatherford International been awarded?

Weatherford International has been awarded a five-year contract to provide Intervention Services for Petrobras in Brazil.

What digitalization solution will Weatherford provide?

Weatherford will provide its digitalization solution, the Centro well construction optimization platform.