Weatherford to provide fishing, intervention services to Petrobras

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Offshore staff

BAAR, SwitzerlandPetrobras has awarded Weatherford International plc a four-year, $87-million contract for fishing and intervention services.

According to Weatherford, this is its largest fishing contract ever and the largest single global award for this scope in the recent past. 

In addition, the company has filed the second amended joint prepackaged plan of reorganization under Chapter 11 of the Bankruptcy Code with the US Bankruptcy Court for the Southern District of Texas.

Under the amended plan, upon exit from bankruptcy the company will have access to additional financing in the form of (a) an undrawn first lien exit revolving credit facility in the principal amount of at least $600 million, and (b) up to $2.1 billion of a single tranche of new senior unsecured notes with a five-year maturity.


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