Houston, February 23, 2000
Weatherford International, Inc. (NYSE: WFT) today announced that it had been awarded a multi-year contract to supply artificial lift equipment for the Petrozuata development in Venezuela. Petrozuata is a Joint Venture company between Petroleos de Venezuela and Conoco Inc.
The Petrozuata project is located in the Orinoco heavy oil belt. Weatherford, the leading worldwide provider of artificial lift systems, will provide progressing cavity pumping (PCP) systems customized for the heavy oil requirements of this project.
Houston-based Weatherford International, Inc. (http://www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling, completion and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 10,000 people worldwide.
Contacts:
Don Galletly (713) 693-4148
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027
713-693-4000