Rolls-Royce Wins $138 Mln Services Contract From Petrobras

(RTTNews) - UK-based engine maker Rolls-Royce Group Plc. (RR.L, RYCEY.PK) Thursday said it has been awarded a $138 million, five-year services contract by oil and gas exploration and production firm Petrobras to support its oil production activities offshore Brazil.

Rolls-Royce will supply Petrobras with advanced maintenance and repair services to support fifteen Rolls-Royce RB211-G62 industrial gas turbine power generation units installed on four Petrobras oil platforms operating in the petroleum rich, pre-salt Campos Basin.

The four Petrobras platforms can together produce over 500,000 barrels of oil per day, or 25 percent of Brazil's entire output. They are reliant on nearly 375 MW of Rolls-Royce generated power to maintain a consistently high production output.

The Long Term Service Agreement contract, which has a potential value of up to $220 million over its five-year renewal period, will help ensure that the Rolls-Royce units continue to operate at peak performance levels of efficiency and reliability.

Over fifty Rolls-Royce engineers and technicians are working on the project, most based full-time on the four platforms.

The Rolls-Royce Energy workshop at Macae in Brazil supports their work. In 2014, Rolls-Royce will inaugurate a new, $100 million plus investment, purpose-built gas turbine package, assembly and test facility in Santa Cruz in Rio de Janeiro, further strengthening Rolls-Royce local, in-country manufacturing and services presence.