Fugro awarded major Brazil contract

Jan. 23, 2006
FUGRO OceansatPEG SA, a joint venture established in 2005 (in which Fugro has an interest of 62%), has been awarded a contract with a total value of $25.4 million by Petrobras.

Offshore staff

(Brazil)- FUGRO OceansatPEG SA, a joint venture established in 2005 (in which Fugro has an interest of 62%), has been awarded a contract with a total value of $25.4 million by Petrobras.

Fugro will equip a chartered vessel with two Remotely Operated Vehicle (ROV) systems, of which one will be a new purchase. The project starts in June 2006, and comprises a variety of inspection and construction support services in Brazilian waters over a period of two years. The contract includes an option for a two year extension.

Fugro will expand its ROV offerings in the next two years by developing eight new work class ROV systems. These systems (fitted with remote controlled underwater cameras and manipulators) will be used for inspection and maintenance, drilling support, as well as construction support activities such as underwater pipe-laying. A number of these new ROVs are designed to operate in water depths up to 3,000 m.

Fugro also announced that its Ventura, California-based operating company Fugro West, has acquired España Geotechnical Consulting (EGC), a 20-person firm based in the Sacramento Valley city of Roseville, California.

EGC has been in business for 16 years, specializing in geotechnical, geological and earthquake engineering and construction material testing. EGC's annual turnover amounts to $3 million.


01/23/2006