Prysmian commits to further investment in Brazil

Prysmian expects to invest around $180 million in its cable/pipeline manufacturing operations in Brazil during 2009-10, taking its total outlay in the country in recent years to $270 million.

Offshore staff

MILAN, Italy -- Prysmian expects to invest around $180 million in its cable/pipeline manufacturing operations in Brazil during 2009-10, taking its total outlay in the country in recent years to $270 million. The company allocated $45 million in 2007 to a new plant in Vila Velha to manufacture offshore oil and gas umbilicals, and next year plans to start producing flexible pipes at further new facilities nearby, employing 100 people.

Prysmian has a four-year frame agreement with Petrobras to design and supply flexible pipes. In addition, it will supply a wide range of dynamic risers and static flowlines for installation in water depths beyond 2,000 m (6,561 ft). The new flexibles range will be developed under a series of technical co-operation agreements with Petrobras. Earlier this year at OTC, it presented the first prototypes, which were produced using existing machinery at Vilha Verde.

Prysmian says it can offer the oil and gas industry a comprehensive range of subsea umbilical, riser, and flowline products.

11/13/2009

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