Dresser-Rand's Selection to Supply Compression Systems for Eight "Replicant" FPSO Vessels for Brazil's Pre-salt Fields Subject to Further Approvals
HOUSTON - Vince Volpe, Dresser-Rand's President & CEO, made a presentation at the Barclays CEO Energy - Power Conference today, which was simultaneously webcast. In response to questions, Mr. Volpe confirmed that the Company believes it has been selected as the supplier for all the compression needs of the eight "replicant" floating, production, storage and offloading (FPSOs) vessels that will be used in the Pre-Salt project. However, he also cautioned that any actual award remains subject to the approval of Petrobras' Board of Directors and its Partners.
Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE: DRC), a global supplier of rotating equipment and aftermarket parts and services, remains hopeful that firm award to supply all of the advanced compression equipment for these eight "replicant" FPSOs, to be located in the Tupi and Guara pre-salt fields in the Santos basin off the coast of Brazil, will take place this year.
According to Vincent R. Volpe Jr., President and CEO, "The potential bookings associated with this Pre-Salt project are consistent with prior guidance and indicative of the continuing strength in the recovery of our end markets, particularly the upstream segment. On this basis, the Company reiterates our expectation that the new unit bookings for 2011 may be at the top end of, or even exceed, the guidance previously provided of $1.4 to $1.6 billion."
About Dresser-Rand
Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. The Company operates manufacturing facilities in the United States, France, United Kingdom, Spain, Germany, Norway, India, and China, and maintains a network of 45 service and support centers (including 6 engineering and R&D centers) covering more than 140 countries. Dresser-Rand has principal offices in Paris, France, and Houston, Texas.
SOURCE Dresser-Rand Group Inc.
Web Site: www.dresser-rand.com
