FMC Technologies to develop subsea technology for Petrobras
2010.12.01 -
Company News
The agreement includes the development of innovative and cost effective subsea production systems to address the challenges associated with Petrobras' pre-salt oil and gas fields. It also includes the design of subsea processing technologies that can increase recovery rates at Petrobras' maturing oil and gas fields. Both companies anticipate a portfolio of subsea solutions will result from this announcement.
"Today's agreement enhances our strong presence in Brazil and will play an important role in the development of systems that can effectively produce hydrocarbons in Brazil's deepwater and pre-salt environments," said John Gremp, FMC's President and Chief Operating Officer. "We are proud to have supported Petrobras' many subsea processing achievements and are confident this agreement, as well as our Technology Center in Rio de Janeiro, will further strengthen our collaborative efforts."
FMC Technologies' presence in Brazil began in 1956 and currently includes two manufacturing facilities inRio de Janeiro and one service base in Macae. Construction of the Technology Center, announced in July of 2010, is expected to be completed in the first half of 2011.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
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Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
