Brazil's Ocyan to Renovate Petrobras Gas Pipeline for $317.5 Million
(Reuters) — Brazilian oil and gas services provider Ocyan has won a contract with state-run oil firm Petrobras to revitalize a network of gas pipelines in the offshore Campos Basin for 1.6 billion reais ($317.49 million), an executive told Reuters on Monday.
The contract will last an estimated four and a half years and will revamp the pipelines of two decommissioned platforms, Jorge Mitidieri, executive vice-president of Ocyan's services unit, told Reuters.
In June the firm, owned by Grupo Novonor, completed a restructuring in which it spun off its former drilling unit into another company, called Foresea, in which it will have a minority stake.
Ocyan kept the services business, with one of its units focusing on offshore production and subsea construction services and another on new energies.
"This contract is very important for us... we won it after the company split up, so it shows our strength and a very important position in the subsea construction market," Mitidieri said.
The company, formerly known as Odebrecht Oleo e Gas, will work in partnership with Portugal's Mota-Engil. ($1 = 5.0395 reais)
Related News
Related News
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Another Major U.S. Oil Refinery Shutting Down as Lyondell Confirms Houston Closure
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
Comments