Petrobras and Norwegian company Aker Solutions close a major subsea structure contract for offshore fields in Brazil

This will include intervention, preservation and maintenance, as well as installation services for Petrobras. 50% of this project will have local content

November 05th, 2022 — Aker Solutions signed a substantial contract¹ with Petrobras and Partners (Consortia) to provide subsea production systems (SPS) and subsea lifecycle services (SLS) for oil and gas fields operated by Petrobras offshore Brazil.

The frame agreement will last for five years, from the fourth quarter of 2022 to the fourth quarter of 2027, and includes an option to extend for another five years. During its term, it is estimated that up to 33 wet Christmas trees (ANMs) could be supplied to Petrobras. The agreement will be managed from Aker Solutions units in Brazil.

The scope of the frame agreement covers the delivery of complete subsea production systems, including equipment such as ANMs, the company's state-of-the-art subsea controls called “Vectus”, subsea distribution units and spare parts, for fields operated by Petrobras offshore Brazil.

The agreement also covers the full range of subsea lifecycle services for fields operated by Petrobras offshore Brazil. This will include intervention, preservation and maintenance, as well as installation services. The service work will be managed from the Aker Solutions service base in Rio das Ostras, Rio de Janeiro.

“Brazil is one of the world's leading offshore markets and we look forward to continuing our long-term relationship with Petrobras. This historic agreement is a testament to the quality our skilled employees have performed over their time in Brazil and the value of our subsea solutions and services. Aker Solutions has been present in Brazil for over four decades and has a proven track record of delivering safe, efficient, sustainable and reliable operations,” said Maria Peralta, Executive Vice President and Head of Subsea Business at Aker Solutions.

The signed agreement model continues Aker Solutions' long-term commitment to drive local partnerships, with more than 50% local content rate for SPS and SLS. The agreement has a strong focus on safe and sustainable operations, as well as continuous improvements, including increased use of digital solutions to increase efficiency, streamline execution and increase value creation for all parties.

The contract will be booked as order intake in the fourth quarter of 2022 in the subsea segment. Work under the frame agreement will be demand based and the value represents an estimate of expected deliveries for the contract period. The total amount will depend on the customer's future demands.

¹ Aker Solutions sets a substantial contract between NOK 2,5 billion (about R＄1,21 billion) and NOK 4,0 billion (about R＄1,93 billion)

Source and Direct Translation: Aker Solutions Press