SapuraKencana Nets $2.7 Bln PLSV Contract in Brazil

Sapura Navegação Marítima S.A., Brazil (SNM), a company jointly owned by SapuraKencana Petroleum Berhad and Seadrill Limited has secured $2.7 billion contract in Brazil.

Under the contract, awarded by the Brazil’s state-run oil company Petrobras, SNM will build, charter and operate three Pipe Laying Support Vessels (PLSV)  for a period of eight years.

Petrobras will have an option to extend the contract for additional eight years.

The contracts are expected to start by the second quarter of 2016. The vessels will, according to a statement made by Malaysia’s SapuraKencana, be constructed outside Brazil.