Subsea 7 to Wrap Up Guará-Lula by Year-End

Subsea 7, contractors in seabed-to-surface engineering, construction and services to the offshore industry, is back on track with Guará-Lula offshore project in Brazil.

According to the statement given to Reuters by the Chief Executive Jean Cahuzac, Subsea 7 has managed to bring Guará-Lula problems under control and expects to finish up the work by the end of the year.

After being awarded a $1 billion engineering, procurement, installation and commissioning (EPIC) SURF contract by Petrobras in 2011, Subsea 7 has experienced extensive setbacks and several hundred million dollars cost overruns.

Subsea World News Staff, September 11, 2014