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:
From
'Sound Off! Editors' Blog'