Northern Technologies International Corporation (NTIC) announced a three‑year contract with a leading EPC contractor for floating production storage and offloading (FPSO) units in Brazil. The agreement, valued at approximately R$70 million (US$13 million), will ramp during fiscal 2026 and run through calendar 2028.
The contract includes roughly R$40 million in materials and R$30 million in engineering and field services. NTIC expects to recognize revenue over the duration of the agreement as products are delivered and services are performed. The deal represents a 12% increase in NTIC’s annual revenue compared with the same period in fiscal 2024, when the company reported R$58 million in revenue from its oil and gas segment.
Brazil’s pre‑salt deep‑water sector is expanding rapidly, with Petrobras and other operators investing heavily in offshore development. NTIC’s ZERUST corrosion‑protection solutions are designed for the harsh, saline environments of FPSO platforms, positioning the company to capture a growing share of the market. The contract reinforces NTIC’s long‑standing relationship with Petrobras and expands its footprint in the region.
Management noted that while the contract offers a steady revenue stream, execution will require careful coordination of supply chains and adherence to Brazil’s regulatory requirements. The company also highlighted potential headwinds such as fluctuating commodity prices and the need to maintain high safety and environmental standards in offshore operations.
The multi‑year deal is a milestone win for NTIC and its ZERUST Brazil subsidiary, underscoring the company’s growth strategy in the oil and gas sector and its ability to scale its corrosion‑protection solutions for offshore environments.
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