Weatherford Signs $87 Million Contract with Petrobras

Four-Year Agreement Is Largest-Ever Fishing and Intervention Contract for Weatherford

BAAR, SWITZERLAND, September 10, 2019 - Weatherford International plc (OTC-PINK: WFTIQ) (the “Company” or “Weatherford”), announced the signing of an $87 million contract for fishing and intervention services with Petróleo Brasileiro S.A., which is more commonly known as Brazilian-based multinational corporation Petrobras. The four-year agreement represents the largest fishing contract ever signed by Weatherford. It also constitutes the largest single global award for this scope in the recent past.

“Weatherford is the global leader for fishing and intervention services which facilitated this contract win,” said Dean Bell, President of Well Construction for Weatherford. Bell added, “Customers trust us to get the job done right the first time. Our best-in-class crews and unequaled global support have experience that makes the difference between hours or days offline. Securing a contract of this magnitude further demonstrates our commitment to this vision and validates that our strategy is working.”

For over four decades, Weatherford has provided fishing services to worldwide customers. Today, the Company provides the industry’s most comprehensive set of fishing and intervention capabilities along with skilled people ready for any contingency, anytime and anywhere throughout the globe.

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About Weatherford

Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in more than 80 countries and has a network of 620 locations, including manufacturing, service, research and development, and training facilities and employs more than 24,500 people. For more information, visit www.weatherford.com and connect with Weatherford on LinkedIn, Facebook, Twitter and YouTube.

Contacts: 

Christoph Bausch
+1.713.836.4615
Executive Vice President and Chief Financial Officer

Karen David-Green
+1.713.836.7430
Senior Vice President, Stakeholder Engagement and Chief Marketing Officer