$1.25 billion contract win for Subsea7 with Brazil's state-owned oil & gas giant

Subsea7 wins contract worth over $1.25 billion with Brazil’s oil & gas giant

Subsea7 has secured a contract worth over $1.25 billion with Brazil’s state-owned oil and gas giant Petrobras for a field located at 2,000 meters of water depth offshore Brazil.

Source: Subsea7

Under the contract defined as “super-major”, Subsea7 will perform engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometers of rigid risers and flowlines for the steel lazy wave production system for the Búzios 9 field located some 180 kilometers off the coast of the state of Rio de Janeiro in the pre-salt Santos basin.

Project management and engineering will commence immediately at the company’s offices in Rio de Janeiro and Paris.

Fabrication of the pipelines will take place at Subsea7’s spoolbase at Ubu in the state of Espirito Santo, Brazil, with offshore operations scheduled to be executed in 2026 and 2027.

“This new award strengthens our diverse portfolio of projects in Brazil and affirms our position as a trusted contractor of Petrobras. Subsea7 looks forward to continuing this strong, collaborative relationship as we work together to successfully deliver the Búzios 9 project,” said Yann Cottart, Vice-President Brazil at Subsea7.

The Búzios field was discovered in 2010. Petrobras is the operator with an 88.99% stake with CNOOC (7.34%) and CNODC (3.67%) as partners. The current development concept for the deepwater field encompasses 11 platforms.

This award comes shortly after Subsea7 secured a “sizeable” contract to undertake project management, engineering, procurement, construction, and installation (EPCI) of a five-kilometer 8” production pipeline with a 3” piggy-backed gas lift line and an electro-hydraulic controls (EHC) umbilical for a North Sea field.