Radix wins $9.5 million contract with Petrobras for well, subsea engineering solutions
Radix Engineering and Software closed a R$49 million (approx. $9.5 million) contract with Petrobras to develop and maintain scientific software focused on Well Engineering and Subsea Engineering.
Radix will develop software for two lots of subsea and one lot of wells, marking its return to large contracts with Petrobras. The partnership will last for three years, extendable for an additional two years.
The market forecast for oil and gas wells and subsea operations is very positive, particularly in Brazil. New initiatives are being launched to drill new wells, well plugging, and decommissioning. Companies are also launching innovative projects to add new equipment installation on the seabed, which will require players to be very efficient and controlled in their operations to minimized operational and environmental risks.
Carlos Loyola, Radix’ Upstream General Manager, commented: “The growth of investments in the area also requires a more robust governance closer to execution, mainly due to the number of companies involved in these operations. Radix’ services are expected to contribute to raising process governance, activities efficiency, technical decision assertiveness, and operations continuity.”
Radix will be responsible for developing new systems, improving existing ones, and supporting those currently in use by Petrobras for Well Engineering and Subsea Engineering. The effort will include multiple software technologies, languages, and frameworks, always applying agile management methodologies to the developments.
The contract will generate 50 new job positions in Radix. Moreover, the contract reinforces Radix’ strategy to bring its combined expertise of engineering, automation, and system development services in O&G Production to new customers and stakeholders in drilling, construction and subsea installation market.