HOUSTON– Oceaneering International Inc. subsidiary Marine Production Systems do Brasil Ltda. has secured a four-year contract with a one-year optional extension period from Petrobras.
Under the terms of the contract, Oceaneering will supply and operate three drill pipe riser (DPR) systems with installation workover control systems, along with project management, engineering, and support services. The company plans to manufacture the associated umbilicals for the DPR systems at its facility in Niteroi, Brazil.
Oceaneering will start constructing and building the assets in 3Q 2018 and expects work under the contract to begin in 3Q 2019. The contract value is expected to exceed $50 million.