Subsea 7 Bags $400 Mln Petrobras Contract (Brazil)

Subsea 7 S.A.  announced the award of a contract with a value of approximately U$400 million from Petrobras.

The contract is for the operation of the Pipe Lay Support Vessel (PLSV) Normand Seven on a day rate basis for around five years, with operations starting in the fourth quarter of this year.
The vessel has operated for Petrobras for several years and is currently under contract with this client. The work scope of the contract is similar to that of other PLSVs which Subsea 7 currently operates offshore Brazil, comprising project management, engineering and installation of flowlines, umbilicals and equipment supplied by Petrobras.
Victor Bomfim, Senior Vice President for Brazil, said: “Following on from the recently announced PLSV contract renewals for the K3000 and Seven Phoenix, this contract further strengthens our presence in the day-rate PLSV business segment in Brazil, and we look forward to supporting Petrobras in future developments.”