IPS Inks $50 Million Services Agreement With Petrobras

Delhi, India (PressExposure) April 20, 2009 -- 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.

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About IPS (Invensys Process Systems)

Invensys Process Systems (IPS), headquartered in Plano, Texas, is a global technology, software and consulting firm leading significant change in process manufacturing, plant optimization, business operations and enterprise performance. IPS clients are some of the world’s most important industrial organizations — companies that operate large oil refineries; plants that process chemicals, gas, LNG, power, pharmaceutical and minerals; and pulp and paper mills. IPS solutions, used at more than 50,000 locations around the globe, include field devices and controls from Foxboro and Triconex, advanced applications from SimSci-Esscor, operations management from Avantis, and the world’s first truly open enterprise control system, InFusion.

The company’s approximately 7,500 employees integrate these capabilities to create solutions that impact and increase efficiency, boost productivity, and accelerate performance. These results help industrial companies run safer, operate more efficiently, and extract useful knowledge from their operations to make faster, better decisions. To learn more about IPS visit http://www.ips.invensys.com.

The Invensys Group (www.invensys.com) is headquartered in London and is listed on the London Stock Exchange (ISYS.L), with approximately 25,000 employees working in 60 countries.

Invensys, Avantis, Foxboro, SimSci-Esscor, Triconex, InFusion and the IPS logo are trademarks of Invensys plc, its subsidiaries, or affiliates. All other brands and product names may be trademarks of their respective owners.

Press Release Source: http://PressExposure.com/PR/Mutual_PR.html

Press Release Submitted On: April 17, 2009 at 5:39 am
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