Prysmian awarded US$42 million contracts for umbilical systems by Petrobras.

The Group also announces significant steps forward in its plan to develop a complete range of “SURF” products for the Oil&Gas industry.

Prysmian Cables & Systems, leading worldwide player in the energy and telecom cable industry, has been awarded a set of contracts by the Brazilian company Petrobras (Petróleo Brasileiro SA) for the supply of total 84.5 kilometres of Umbilical systems.
The total value amounts to approximately US$ 42 million and the scope of the supply comprises of Umbilical systems of six different types and configurations to be installed in four oil and gas fields in the Campos and Espirito Santo basins, off the coast of Brazil. Delivery is due by the end of March 2010.
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< Umbilicals are multifunctional tubing systems, which enable subsea wellheads and manifolds to be connected to platforms or FPSO’s (Floating Production Storage and Offloading). In the past few years Prysmian has been dedicating strong efforts and commitment to the development of a full range of systems and products for the Oil&Gas industry.
In 2008, the Group also moved a significant step forward to enter the high value-added business of flexible pipes for offshore Oil&Gas extraction, by signing a four-year frame agreement with Petrobras for the design and supply of a wide range of dynamic risers and static flowlines, covering up to 6’’ diameter pipes, to be installed at great depths.

The company is now proud to announce that the first prototype lengths of the newly-developed flexible pipes have been manufactured in full compliance with the required design and project specifications and testing is currently going on. Samples of both prototypes have been on display at the 2009 Offshore Technology Conference (OTC) thet took place in Houston from May 4th to 7th.

The addition of this segment to the current production of both Steel and Thermoplastic Umbilicals demonstrates the Company’s commitment to meet the needs of the OG&P industry by offering a comprehensive range of SURF products (Subsea, Umbilicals, Risers and Flowlines). Prysmian planned to start full regime production of flexible pipes in 2010 when the construction of the new production facility in Vila Velha, Brazil, conceived exclusively for the manufacturing of flexible pipes, will be completed.

The new plant, worth an investment of approximately $110 million, will complement the existing one dedicated to the production of Umbilicals, opened in early 2007. This demonstrates Prysmian’s undisputed commitment to offer a wide range of high technology industrial cables for applications in all fields to the Oil, Gas & Petrochemical industry.