Rolls Royce wins significant Brazilian contract

Rolls-Royce, the global power systems company, has been awarded a significant order to supply integrated power and propulsion systems for seven offshore drilling vessels for Brazilian oil company Petrobras.

Rolls-Royce, the global power systems company, has been awarded a significant order to supply integrated power and propulsion systems for seven offshore drilling vessels for Brazilian oil company Petrobras.

Under the £100m deal Rolls-Royce will equip each of the seven vessels with six large thrusters and six Bergen diesel generator sets to enable the systems to propel the vessels to and from drill sites and to accurately maintain their positioning during drilling operations.

Tony Wood, President of Marine at Rolls-Royce, said: "We are delighted to announce this significant order in Brazil for our new customer, Atlntico Sul. This contract builds further on our strong reputation for innovation and technology, and on our market-leading position for power and propulsion systems in the offshore drilling sector."

Rolls-Royce has delivered propulsion systems for more than 140 mobile drilling units, with systems on order for a further 30 units.

The company has also built 45 Rolls-Royce-designed offshore supply vessels in Brazil to support oil and gas exploration and production. A further 12

vessels have been ordered.

The group added that it is further investing in Brazil and will open a new facility in 2013 in Santa Cruz, Rio de Janeiro. This facility will be dedicated to the assembly and testing of industrial gas turbines. The first batch of equipment to be produced in Santa Cruz has already been ordered by Petrobras in a

$650m contract signed in 2011.

The share price fell 0.57% to 870.50p in early trading.

NR

Recommended

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Where will house prices go in 2023?
House prices

Where will house prices go in 2023?

We explore what could happen to house prices in 2023 as the market continues to slow down.
24 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023
5 top UK tech stocks
Investments

5 top UK tech stocks

The UK market has never been considered a fertile hunting ground for tech stars. But there are plenty of promising companies beyond the old economy, s…
23 Mar 2023