Northern Technologies International Corporation Secures Multi-Year Offshore Oil & Gas Production Asset Preservation Contract in Brazil

Core Insights - Northern Technologies International Corporation (NTIC) announced a significant three-year contract for its subsidiary Zerust Brazil to provide corrosion protection solutions for floating production storage and offloading (FPSO) units, marking a milestone for the company [1][2][3] Company Overview - NTIC specializes in developing and marketing corrosion prevention products and services, operating in over 65 countries, primarily under the ZERUST® brand [4] - The company has over 50 years of experience in corrosion inhibition across various sectors, including automotive, electronics, and military, and has recently expanded into the oil and gas industry [4] Contract Details - The contract with a major international engineering, procurement, and construction (EPC) contractor is valued at approximately R$70 million (US$13 million), with R$40 million (US$7.4 million) allocated for materials and R$30 million (US$5.6 million) for engineering and field services [3] - Revenue from this contract will be recognized over the duration of the agreement as products are delivered and services performed [3] Market Position - Zerust Brazil's ability to deliver specialized corrosion solutions for offshore environments has established it as a trusted partner for leading FPSO operators [4] - The project highlights the scalability of NTIC's oil and gas business and the company's commitment to supporting offshore asset integrity in Brazil, identified as one of the fastest-growing deepwater markets globally [4]