Schoeller-Bleckmann Oilfield Equipment AG

EANS-News: Schoeller-Bleckmann Oilfield Equipment AG
Schoeller-Bleckmann subsidiary DSI receives major order from Petrobras - DSI downhole circulation tools ensure high operational reliability in deep drilling

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Company Information

Ternitz (euro adhoc) - 20 December 2013. Schoeller-Bleckmann Oilfield Equipment
AG (SBO) announces conclusion of a large-scale framework agreement with
Petrobras. The contract volume currently amounts to approximately USD 15.0 mill.
over two years. After that period, an option to extend the agreement will be
available. SBO subsidiary Drilling Systems International (DSI) based in Dubai
will supply downhole circulation tools to the Brazilian oil and gas group in the
next two years. The tools will be used mainly for offshore projects to develop
ultra-deepwater fields off the Brazilian coast and also for onshore wells. 

The main purpose of DSI's "PBL Multiple Activation Tool" (PBL tool) is to
minimise loss of circulation during the drilling process. Additionally, the PBL
tool is used for wellbore cleanup operations. The benefit the PBL tool provides
to customers lies in considerable time and cost savings, as the system is highly
reliable and easy to operate. 

Petrobras is one of the world's leading know-how owners in deepwater and
ultra-deepwater drilling. DSI received the order from Petrobras against
international competitors. SBO's subsidiary is the global market leader for this
niche technology. The company was acquired by SBO in 2010 and has developed into
a key sales, profit and technology driver in the downhole tools segment of the
SBO group. SBO also has a branch office in Brazil.


Further inquiry note:
MMag Florian Schütz, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz/Austria, Hauptstrasse 2
Tel.: +43 2630 315-251
Fax: +43 2630 315-501
E-Mail: f.schuetz@sbo.co.at

end of announcement                               euro adhoc 
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company:     Schoeller-Bleckmann Oilfield Equipment AG
             Hauptstrasse 2
             A-2630 Ternitz
phone:       02630/315110
FAX:         02630/315101
mail:     sboe@sbo.co.at
WWW:      http://www.sbo.at
sector:      Oil & Gas - Upstream activities
ISIN:        AT0000946652
indexes:     WBI, ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English
 



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