Fugro signs US$180mn Petrobras contracts
Bnamericas Published: Tuesday, April 05, 2011
Dutch oil and gas services provider Fugro has been awarded new contracts from Brazilian state-run oil giant Petrobras (NYSE: PBR) worth US$180mn. In a statement, Fugro said it secured a long-term saturation diving contract with Petrobras. The contract is worth around US$100mn. The contract has a five-year duration with an additional five-year option. Operations are expected to start by early 2012. In addition, Fugro signed a contract amendment for the ongoing Toisa Sentinel contract, managed in partnership with Sealion Shipping. This contract is valued at US$80mn.
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