Dril-Quip, Inc. (NYSE:DRQ) has been awarded a contract valued at approximately $28 million for the supply of subsea wellhead systems to Petrobras (NYSE:PBR) for the Papa Terra field located in the Campos Basin offshore Brazil.
Equipment deliveries are scheduled to begin during the first quarter of 2011 and will continue through the first quarter of 2013.
In July, Dril-Quip was awarded a $100 million contract to provide the surface production tree systems, production riser systems and a drilling riser system for the P-61 Tension Leg Wellhead Platform (TLWP) to be installed on the Papa Terra field.
Situated 70 miles offshore Brazil in waters measuring 3,900 feet deep, Papa Terra is a heavy oil subsea development situated on Block BC-20. The Papa Terra development includes a TLWP connected to an FPSO capable of producing up to 140,000 barrels of crude oil per day.
First production from the Papa Terra is scheduled for 2013.