SBM Offshore and its partners have signed a contract worth $3.5 billion from Brazil's Petrobras for the construction of two oil platforms, the Dutch maritime services company said.
The contract, the biggest for SBM, is for the company's main area of business, which the so-called floating, production, storage, and offloading platforms (FPSOs).
Two week ago, SBM Offshore reached settlement of a dispute over a project in Norway involving a mobile offshore production unit on which the company had to write down $1.4 billion over 3 years.
SBM said in a statement that it will be working in a joint venture for the delivery of two FPSOs in 2015 and 2016. The partners of SBM include Brazil's Queroz Galvao Oil & Gas SA.
The JV will manage the two platforms for the span of 20 years and the contract is expected to be finalized by the second quarter this year, SBM Offshore said.
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