Weatherford signs $87m contract With Petrobras

Weatherford International plc (the “Company” or “Weatherford”), announced the signing of an $87 million contract for fishing and intervention services with Petroleo Brasileiro S.A., which is more commonly known as Brazilian-based multinational corporation Petrobras. The four-year agreement represents the largest fishing contract ever signed by Weatherford. It also constitutes the largest single global award for this scope in the recent past.

“Weatherford is the global leader for fishing and intervention services which facilitated this contract win,” said Dean Bell, President of Well Construction for Weatherford. Bell added, “Customers trust us to get the job done right the first time. Our best-in-class crews and unequaled global support have experience that makes the difference between hours or days offline. Securing a contract of this magnitude further demonstrates our commitment to this vision and validates that our strategy is working.”

For over four decades, Weatherford has provided fishing services to worldwide customers. Today, the Company provides the industry’s most comprehensive set of fishing and intervention capabilities along with skilled people ready for any contingency, anytime and anywhere throughout the globe.

Source: Company Press Release