Subsea 7 S.A. awarded contract offshore Brazil
Subsea 7 S.A. (Oslo Børs: SUBC) has been awarded a contract worth approximately USD$200 million with a duration of approximately two years.
The contract is for the installation of flexible lines for Petrobras projects using Subsea 7’s construction and flex-lay vessel Seven Seas, on a day-rate basis.
The vessel has been operating for Petrobras under a similar day-rate contract since 2013 and will commence the new contract in direct continuation to the current one.
The Seven Seas is a vessel capable of operating in water depths up to 3,000 metres and is equipped with an advanced flexible pipe-lay system with top tension capacity of 430 tonnes. The contract work scope will be similar to that of other Subsea 7 Pipelay Support Vessels (PLSVs) operating under day-rate contracts in Brazil, providing engineering and installation services for client-supplied flowlines, umbilicals and subsea equipment.
Source: Subsea 7 S.A.