Petrobras adds IPS to the list...gotcha covered!

Between ABB's frame agreement to upgrade all of Petrobras' control systems, and this new agreement between Petrobras and IPS for safety systems and asset management systems, Petrobras is pretty well covered for upgrades to their refineries and oil platforms. When Petrobras is finished with these upgrades, watch out! They'll be as "world class" as any US or European oil company, and they will be able to compete head to head with anyone anywhere.

Here's the text of the release from Tom Clary at Invensys:

IPS inks $50 million services agreement with Petrobras
-- Company to provide safety solutions for Brazilian energy giant --

APRIL 16, 2009/BUENOS AIRES - Invensys Process Systems (IPS), a global technology, software and consulting firm, today announced that it has signed a five-year, $50 million contract to provide comprehensive safety services and solutions to Petrobras, an international energy giant based in Rio de Janeiro, Brazil, and one of the world’s largest companies.

IPS has been providing products and services to Petrobras for more than 50 years. Under the terms of this contract, the company will implement its Triconex® safety and critical controls and Avantis® asset management technology to upgrade and modernize 11 Petrobras refining facilities throughout Brazil. Along with its proprietary technology, IPS will also supply engineering, systems integration and consulting services to help Petrobras meet its strategic goal of becoming one of the five largest integrated energy companies in the world.

“IPS is the unquestioned leader in providing scalable, robust safety solutions to the energy industry,” said Ricardo Agostinelli, president, IPS Latin America. “With a proven record of success worldwide and a long-standing relationship with Petrobras, we are uniquely qualified to help them meet their long-term objectives. We look forward to working with Petrobras as they continue to operate in a safe and profitable manner while improving the environment, health and safety of Brazil and the countries in which they operate.”

The adoption of safety policies and procedures is an integral component of Petrobras’ strategic plan to improve automation standards. To enable them to meet their business goals, IPS will deliver fully engineered safety services and solutions, including logic diagram validation.

According to its Business Plan 2020, Petrobras’ long-term strategy is to continue to pursue sustainable, responsible growth and expand operations in key oil and oil-related markets around the globe, as well as become a benchmark integrated energy company. Environment, health and safety are a top priority for Petrobras. As a result, Petrobras is investing in new process units for each existing refinery to ensure that they remain in compliance with strict new environmental requirements for processing clean fuels.