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Name Symbol Market Type
Petroleo Brasileiro S.A. Petrobras BOV:PETR4 Bovespa Preference Share
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.0% 26.66 0 11:00:01

Aker Solutions Gets Contract From Petrobras for Subsea Work Offshore Brazil

18/11/2021 9:03am

Dow Jones News


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By Dominic Chopping

 

Aker Solutions ASA said Thursday it has been awarded a substantial contract by Petroleo Brasileiro SA to provide a subsea production system and related services for the Mero 4 project offshore Brazil.

The energy-industry service provider defines a substantial contract as being valued at between 700 million and 1.2 billion Norwegian kroner ($80.0 million-$137.2 million), and said it will book the contract as order intake in the fourth quarter of 2021.

Aker Solutions' subsea manufacturing facility in Sao Jose dos Pinhais and its subsea services base in Rio das Ostras will carry out the main part of the work, it said.

Work is starting immediately, with installation scheduled to take place between 2023 and 2025, the company said.

The Mero field is operated under a production-sharing agreement with a consortium comprising Petrobras as the operator, in partnership with Shell Brasil, TotalEnergies SE, Cnooc Ltd. and China National Oil & Gas Exploration & Development Co., or CNODC. The consortium also has the participation of state-owned company Pre-Sal Petroleo SA as the manager of the production-sharing contract.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

November 18, 2021 03:48 ET (08:48 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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