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This Will Include Intervention, Preservation and Maintenance, as Well as Installation Services for Petrobras. 50% of This Project Will Have Local Content
November 5, 2022 — Aker Solutions has signed a substantial contract1 with Petrobras and Partners (Consortia) to provide subsea production systems (SPS) and subsea life cycle services (SLS) for oil and gas fields operated by Petrobras offshore Brazil.
The frame agreement type contract will last for five years, from the fourth quarter of 2022 until the fourth quarter of 2027, and includes an option for a five-year extension. Throughout its duration, it is estimated that up to 33 wet Christmas trees (ANMs) may be supplied to Petrobras. The agreement will be managed from Aker Solutions’ units in Brazil.
The scope of the frame agreement encompasses the delivery of complete subsea production systems, including equipment such as ANMs, state-of-the-art subsea controls from the company called “Vectus,” subsea distribution units, and spare parts, for fields operated by Petrobras offshore Brazil.
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The agreement also covers the full range of subsea life cycle 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 Aker Solutions’ service base in Rio das Ostras, Rio de Janeiro.
“Brazil is one of the world’s main 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 delivered over 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 model of the signed agreement continues Aker Solutions’ long-term commitment to drive local partnerships, with over 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 increasing the use of digital solutions to enhance efficiency, optimize execution, and increase value creation for all parties.
The contract will be recorded as a purchase order in the fourth quarter of 2022 in the subsea segment. Work under the frame agreement type contract will be based on demands, and the value represents an estimate of the expected deliveries for the contract period. The total amount will depend on future customer demands.
1 Aker Solutions defines a substantial contract as between NOK 2.5 billion (approximately R＄ 1.21 billion) and NOK 4.0 billion (approximately R＄ 1.93 billion)
Source and Direct Translation: Aker Solutions Press
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