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Prysmian wins major umbilicals contract from Petrobas

Italy's Prysmian Group reports that it has been awarded a contract from a long-time customer potentially worth up to $260 million for umbilical products for offshore oil and gas extraction.

A press release said the contract, from Petrobas, a Brazilian oil company, relates to a frame agreement for 360 km of umbilicals, "most of it to be used in pre-salt fields, in 16 different cross sections and related ancillaries, offshore services and qualifications" and potentially more from orders expected  to be placed within a two-year period. It added that Petrobas also extended its existing contract with Prysmian covering flexible pipes to 2016, a scope that valued at $95 million, of which $20 million has already been allocated for the Macabu, Jubarte and Marlim Leste fields.

Both the umbilicals and the flexible pipes, the release said, will be manufactured in Prysmian's plants in Vila Velha, Brazil, an industrial plant with high production capacity, and a strategic location (on the Vitoria Channel - Espirito Santo State) dedicated to Subsea Umbilicals, Risers and Flowlines (SURF). It said that Prysmian has invested  in the Vila Velha plants "with the aim of diversifying and further expanding its activities in the market of technology and products for the OG&P industry."

With a presence in Brazil since 1929, the Group is active in all of the most strategic businesses of the cable industry, from high and extra high voltage systems to high-tech cables for the oil industry and optical cables for telecommunications, the release said. It noted that Prysmian has six plants and one R&D center in Brazil, with a collective work force of more than one thousand employees. The Group has launched production of its full portfolio of cabling solutions for the offshore oil and gas industry in its operations in Brazil, where it will compete in the local market based on its record of global expertise, track record and reliability, it said, adding that its merger with Draka broadened the Group's available range "of products technology to special Down Hole Technology (DHT) systems (manufactured in Massachusetts and New Jersey) and creating interesting cross-selling opportunities to accelerate the business's expansion also in new strategic areas such as ASEAN, Northern Europe and Western Africa."

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