Wellstream Win £18m Order for Flexible Risers

Wellstream International Ltd has entered into an agreement with an affiliate of Hydro and Anadarko Petroleum Corporation worth £18m for the supply of twelve (12) 11.5-inch ID flexible risers for the Peregrino project offshore Brazil. These risers will be used to connect subsea pipelines to two wellhead platforms and an FPSO in a water depth of approximately 125m.

The pipes will be partially manufactured in Newcastle before delivery to Wellstream’s new Brazilian manufacturing facility in Niteroi where the pipe will be completed for loadout at the adjacent Bardella Base. Delivery of this contract is scheduled for 2nd quarter 2009.

CEO Gordon Chapman commented “We are delighted to have been given the opportunity to supply risers to the Peregrino project and to continue our long-established relationship with Hydro. This project continues to build on Wellstream’s excellent track record with international operators working offshore Brazil, and follows the successful execution of projects such as Shell Bijupira/Salema, Devon Polvo, and the ongoing Chevron Frade, which is currently in the manufacturing stage. With the award of Peregrino, Wellstream will have supplied all of the non-Petrobras flexible pipe projects in Brazil to date.”