Prysmian Group has been awarded new major contract worth a total of up to approximately $ 260 Million, related to a frame agreement for Umbilical products for offshore oil and gas extraction, by Brazilian oil company Petrobras.

The award refers to a frame agreement for 360 km of Umbilicals, most of it to be used in pre-salt fields, in 16 different cross sections and related ancillaries, offshore services and qualifications, worth approximately $ 260 Million with 50% minimum purchasing commitment and call-off orders to be placed within a two-year period.

The Group has also been awarded by Petrobras the extension to 2016 of the existing frame agreement for flexible pipes, worth a total of $ 95 Million of which $ 20 Million have already been called off for the Macabu, Jubarte and Marlim Leste fields. Both the Umbilicals and the Flexible Pipes for the new contracts will be manufactured in the Group’s state-of- the art- plants in Vila Velha, Brazil, an industrial plant with high production capacity and a strategic location (on the Vitoria channel - Espirito Santo State) fully dedicated to Subsea Umbilicals, Risers and Flowlines (SURF).

Tags: Petrobras, Prysmian Group