DeepFlex has entered into a contract with Petrobras to conduct a qualification testing program on DeepFlex's patented composite flexible fiber reinforced pipe components.

This multi-phase, multi-year contract will include over 5,000 individual tests.

This contract award demonstrates Petrobras' commitment to qualify DeepFlex's products for offshore applications. Petrobras and DeepFlex have been working in close cooperation for over a year to develop the specifications and scope of the program which resulted in the contract award. The qualification program scope includes the composite materials required for the design and development of a high temperature, deepwater pipe with a 20 year service life. Composite armored unbonded flexible pipe is about 50% of the weight of conventional unbonded steel armored flexible pipe, substantially reducing tension loads during installation and operation. Replacing steel with composite armor also eliminates corrosion that can reduce service life.

Mike Kearney, President and Chief Executive Officer, said: "This contract with Petrobras is an important milestone for DeepFlex as we move toward qualification with the largest user of subsea flexible pipe in the world. While the significant pre-salt discoveries in Brazil provide a long-term market opportunity for DeepFlex, we are also excited about becoming qualified as a supplier for shallow and mid-water depths, including the market to replace aging subsea risers and flowlines in more mature fields."

Tags: DeepFlex Inc., Petrobras