Brazilian state-owned oil and gas giant Petrobras has awarded compatriot offshore oil and gas services provider Ocyan with a contract to carry out the revitalization of a network of gas pipelines in the Campos Basin.
The contract, valued at approximately $317.49 million, is expected to last four and a half years and will revamp the pipelines of two decommissioned platforms, Jorge Mitidieri, Executive Vice President of Ocyan’s services unit, said.
Work will be carried out through a 50/50 consortium with the Portuguese company Mota Engil.
According to Ocyan, the contract marks its return in EPCI contracts for subsea construction.
Speaking about other recent news, Ocyan confirmed in June the completion of its restructuring process , which had enabled it to separate its drilling business into a new company, temporarily being called DrillCo.
The business side covering offshore production, subsea construction and decommissioning, maintenance, and offshore services remains fully at Ocyan. The company also revealed it was looking into new energies and services to integrate into its portfolio.