Weatherford International plc (NASDAQ: WFRD) (the "Company" or "Weatherford") today announced it has been awarded a five-year contract with Petróleo Brasileiro S.A. ("Petrobras") in Brazil, after a competitive tender, to provide Drill Pipe Riser (DPR) ultra deepwater offshore intervention systems and services. This new seven-system contract will commence operations March 2025 and will replace a current six-system contract that began in November 2020.
Weatherford's industry-leading Intervention Workover Control Systems (IWOCS) provide holistic answers for tasks such as tubing-string or tubing-hanger installation, well testing and appraisal, spool-base, and both vertical and horizontal Christmas tree installation. Additionally, these systems cater to wellhead-tree cap installation, well-intervention operations with workover blowout preventer, and oil or gas production for early well tests. To elevate this comprehensive solution, Weatherford is incorporating its cutting-edge digitalization solution, the Centro™ well construction optimization platform, offering exceptional operational visibility and performance.
Girish Saligram, Weatherford President and CEO, commented, “We are pleased to win another Petrobras contract. Weatherford has experience in subsea intervention services to extend the productive life of its assets and this contract, combined with the offshore intervention services contract announced in July 2023, highlights the strength of our Brazilian operations. We look forward to continuing our longstanding partnership with Petrobras.”
