GA Drilling partners Petrobras to enhance drilling efficiency [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: Yahoo! Finance
The collaboration involves the Brazilian state-owned oil and gas company's research and innovation centre, Cenpes, and focuses on developing an advanced downhole drilling system. This initiative is expected to improve well construction by lowering costs and reducing risks in challenging drilling environments. Cenpes, which employs more than 1,100 people, conducts research in the oil and gas sector to support Petrobras' business goals and drive value creation. The centre's research covers various industry aspects including exploration, production, refining, logistics and sustainability. Cenpes is also focused on developing sustainable energy technologies, with particular emphasis on decarbonisation and renewable energy. The partnership leverages GA Drilling's technology, which includes a downhole anchoring and drive system that is key to an autonomous reeled drilling system. It is set to enable the drilling of deep and complex offshore wells from lighter and less expensive
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