TETRA to supply completion fluid to HTHP Petrobras wells
2008.06.04 -
Contracts
TETRA Technologies, Inc. (TETRA or the Company) (NYSE:TTI) today announced that it signed a contract on May 30 to supply completion fluids and associated services to Petroleo Brasileiro (Petrobras). This contract, the first of its type with Petrobras, is for completion fluids and associated services on deepwater HTHP (high temperature, high pressure) wells offshore Brazil.
Geoffrey M. Hertel, President and Chief Executive Officer, stated, “TETRA is very pleased to be offering our products and services to Petrobras, under this contract. The area covered and types of wells (HTHP) reflected in this contract have been highlighted by Petrobras, with a number of significant discoveries. While TETRA has previously supplied Petrobras and ex-national oil companies with completions products and services in Brazil, this is by far our largest fluids contract in this country.
“The contract term is for four years, with an option for an additional four years. We hope to begin work under the contract by year-end, however, we are not now budgeting any jobs until 2009. This will give us time to add the needed infrastructure and inventories to our existing operations, to support this contract. The contract exemplifies our continued expansion into international markets and also helps to reinforce our decision to expand our fluids manufacturing operations in Arkansas,” concluded Hertel.
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
