Baker Hughes eyes mature Petrobras asset: report

RIO DE JANEIRO, October 3, 2018 – Baker Hughes, a GE company (BHGE) will submit a proposal to Brazilian NOC Petrobras for a 15-year PSC aimed at raising recovery from the mature Canto do Amaro field, international media reported Wednesday.

Petrobras is looking for new ways to boost recovery from its ageing assets, including by partnering with services companies in production-sharing deals whereby the NOC operates the field and the services provider manages well operations and maintenance activity. If this first project goes well, Petrobras may invite players into other mature fields under similar terms.

The pilot was initially scheduled for tendering in June, but was postponed. BHGE country manager Alejandro Duran told Reuters that proposals are due this month, though the deadline could again be pushed back.

Other major services players such as Schlumberger and Halliburton are reported to be interested in the opportunity as well.

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