The Barracuda vessel in October embarked on its first sea trials and final inspections before sailing into the deepwater oil and gas field of the Campos Basin. The Caratinga vessel is expected to be completed next year.
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Halliburton Solves Its Problems
US oilfield service company Halliburton has finalized an agreement to resolve outstanding issues
US oilfield service company Halliburton has finalized an agreement to resolve outstanding issues with a troublesome project off the coast of Brazil.
The Barracuda-Caratinga project involves conversion of two supertankers ? Barracuda and Caratinga -- into production, storage and offloading vessels for deepwater oil fields. The $2.5 billion contract, awarded to Halliburton engineering and construction subsidiary KBR, has sustained at least $500 million in losses since it was launched in 2000. It has been plagued by higher cost estimates, schedule delays and other problems.
The finalized agreement includes the release of all claims of all parties and the settlement of change orders and revisions of some project milestones, the company said.
The Barracuda vessel in October embarked on its first sea trials and final inspections before sailing into the deepwater oil and gas field of the Campos Basin. The Caratinga vessel is expected to be completed next year.
The Barracuda vessel in October embarked on its first sea trials and final inspections before sailing into the deepwater oil and gas field of the Campos Basin. The Caratinga vessel is expected to be completed next year.
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