Brazilian Subsea Equipment Market Views
With an eye on the lucrative subsea equipment market, suppliers are investing in technology, local workforce and expanding local facilities. New Brazilian companies specialized in subsea equipment and services also strive to compete with foreign suppliers.Today Petrobras is one of the greatest if not the greatest subsea equipment buyer in the world. With the ongoing discoveries of new deepwater and ultra-deepwater O&G plays in Brazil´s offshore, there is a sustained demand for essential subsea systems such as BOPs, Christmas trees, subsea manifolds, risers, rigid and flexible flowlines, umbilicals, subsea control and monitoring systems, ROV´s, AUS´s and all manner of subsea support systems.
Cameron Supplying X-mas Trees for Petrobras
With major contracts secured in the last two years in Brazil, Cameron is in a great position to expand its presence in the Brazilian subsea market in 2010 and beyond.After being awarded a $100 million contract for 25 subsea Xmas tress for the Campos Basin by Petrobras in 2008, (deliveries completed in late 2009), Cameron entered into a frame agreement with Petrobras in 2009, expected to be worth approximately $500 million, for the supply of subsea trees and related running tools to Petrobras for use in their developments offshore Brazil. Under the agreement, Cameron is providing 138 subsea Christmas trees, with the installation to be supported by 18 sets of running tools that are also part of the scope of supply.