Schoeller-Bleckmann Oilfield Equipment AG
EANS-News: Schoeller-Bleckmann Oilfield Equipment AG
Schoeller-Bleckmann
subsidiary DSI receives major order from Petrobras - DSI downhole circulation
tools ensure high operational reliability in deep drilling
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Ternitz (euro adhoc) - 20 December 2013. Schoeller-Bleckmann Oilfield Equipment AG (SBO) announces conclusion of a large-scale framework agreement with Petrobras. The contract volume currently amounts to approximately USD 15.0 mill. over two years. After that period, an option to extend the agreement will be available. SBO subsidiary Drilling Systems International (DSI) based in Dubai will supply downhole circulation tools to the Brazilian oil and gas group in the next two years. The tools will be used mainly for offshore projects to develop ultra-deepwater fields off the Brazilian coast and also for onshore wells. The main purpose of DSI's "PBL Multiple Activation Tool" (PBL tool) is to minimise loss of circulation during the drilling process. Additionally, the PBL tool is used for wellbore cleanup operations. The benefit the PBL tool provides to customers lies in considerable time and cost savings, as the system is highly reliable and easy to operate. Petrobras is one of the world's leading know-how owners in deepwater and ultra-deepwater drilling. DSI received the order from Petrobras against international competitors. SBO's subsidiary is the global market leader for this niche technology. The company was acquired by SBO in 2010 and has developed into a key sales, profit and technology driver in the downhole tools segment of the SBO group. SBO also has a branch office in Brazil. Further inquiry note: MMag Florian Schütz, Head of Investor Relations Schoeller-Bleckmann Oilfield Equipment AG A-2630 Ternitz/Austria, Hauptstrasse 2 Tel.: +43 2630 315-251 Fax: +43 2630 315-501 E-Mail: f.schuetz@sbo.co.at end of announcement euro adhoc -------------------------------------------------------------------------------- company: Schoeller-Bleckmann Oilfield Equipment AG Hauptstrasse 2 A-2630 Ternitz phone: 02630/315110 FAX: 02630/315101 mail: sboe@sbo.co.at WWW: http://www.sbo.at sector: Oil & Gas - Upstream activities ISIN: AT0000946652 indexes: WBI, ATX Prime, ATX stockmarkets: official market: Wien language: English