Contract Win

MEGGITT PLC

Contract Win

Meggitt wins $100 million-plus heat exchanger contract from Petrobras

Meggitt, a leading international company specialising in high performance components and sub-systems for aerospace, defence and energy, has been awarded a $100 million-plus contract for over 200 innovative high-performance compact printed circuit heat exchangers (PCHEs). These PCHEs will be for gas processing applications on Petrobras' floating production, storage and offloading (FPSO) vessels in the Lula and Guará Pre-Salt fields in the Santos Basin, offshore Brazil.

Building on the success of previous PCHE solutions delivered to Petrobras for the Lula and Guará Pilot projects, Meggitt's diffusion-bonded heat exchanger technology has been selected for its superior performance and compactness, which enables higher production capacity from the FPSO's topside space envelope and also because of its high integrity, which delivers superior safety.

The PCHEs will feature in gas compression, gas injection and CO2 separation modules-26 heat exchangers for each of the eight Pre-Salt FPSOs.

The contract, Meggitt's largest so far in this market segment, is with Tupi BV and Guara BV. Starting in 2012 for completion in 2017, the majority of heat exchangers will be assembled in Brazil in line with Meggitt's commitment to provide local manufacturing content where possible. A new Meggitt company, Meggitt Do Brasil, will be used to collaborate with suppliers on the ground on materials sourcing, project management, fabrication, training, aftermarket services and field support.

Terry Twigger, CEO of Meggitt, commented:

"This award follows on from a decade of successful operation of our equipment in Brazil by Petrobras and other clients. After completing the contract, Petrobras will have the largest operating inventory of this technology."

Tupi BV is a joint venture between Petrobras (65%), the BG Group operator (25%) and Petrogal Brasil SA - Galp Energia (10%). GUARA BV is a joint venture between Petrobras (45%), BG Group (30%) and Repsol-Sinopec (25%).

ENDS

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About Meggitt PLC

Headquartered in the United Kingdom, Meggitt PLC is an international group operating in North America, Europe and Asia. Known for its specialized extreme environment engineering, Meggitt is a world leader in aerospace, defence and energy. Meggitt employs over 10,000 people at around 40 manufacturing facilities and regional offices worldwide.