IHC to Build $800 Mln PLSVs for Seadrill, SapuraKencana

After it was yesterday announced that Brazilian oil giant Petrobras had awarded a $2.7 billion contract to charter and operate three Pipe Laying Support Vessels to SNM, the Joint Venture company owned by Seadrill and SapuraKencana, Seadrill today confirmed the deal and revealed the name of the shipbuilder.

The three vessels will be constructed in Holland with IHC and will have the same specifications as SNM’s existing orders with the yard. Total newbuild cost will be approximately US$800 million.

Related: SapuraKencana Nets $2.7 Bln PLSV Contract in Brazil

John Fredriksen, Chairman of Seadrill Limited said, “Seadrill, along with SapuraKencana, continues to support the strategic investment in SNM. The additional vessels bring the total PLSV fleet in the region to 6 units and builds capacity in order to insure that Petrobras has best in class support for their operations. This long term agreement demonstrates SNM’s strong relationship with Petrobras and their industry leading operational performance.”

IHC did not immediately respond to an e-mail seeking comment, sent by Offshore Energy Today.

To remind, the contract  awarded by Petrobras is for a period of eight years with an extension option for an additional eight years and is expected to commence by the second quarter of 2016. Total revenue potential for the contract is expected to be US$2.7 billion.