Dril-Quip subsidiary Dril-Quip do Brasil has been awarded a four-year contract by Petrobras for the supply of subsea wellhead systems and associated tools to be used in the drilling of deepwater wells offshore Brazil.
The contract is worth up to $650million, depending upon whether all of the equipment under the contract is ordered. Dril-Quip expects to begin delivering products under the contract in the second half of 2013.