Oceaneering Announces Umbilical Contract for Petrobras’ Whales Park Field Development

abarrelfullabarrelfull wrote on 25 Jul 2012 05:36
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April 11, 2012

Oceaneering International, Inc. (NYSE:OII) announced it has secured a contract from Petroleo Brasileiro S.A. (NYSE:PBR), Petrobras, to supply approximately 135 kilometers, or 85 miles, of thermoplastic production control umbilicals for the Whales Park field development project offshore Brazil in the Espirito Santo Basin. This contract has added $70 million to its Subsea Products backlog. Product manufacturing is planned to take place in Oceaneering’s plant in Niteroi, Brazil and is expected to commence in the fourth quarter of 2012 and be completed in the fourth quarter of 2014.

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