Subsea 7 Gets $450 Million Contract from Petrobras (Brazil)

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Subsea 7 S.A.  informed for the value of the contract at the time of the signature: $450 million from Petrobras . The deal is for the operation of the Pipe Lay Support Vessel (PLSV) Seven Phoenix on a day rate basis for 5 years, with operations beginning soon this year.

The ship has been under Petrobras operation for years. The work scope of the contract is similar to that of other PLSVs Subsea 7 currently operates offshore Brazil, comprising project management, engineering and installation of flowlines and equipment supplied by Petrobras.

Victor Bomfim, Senior Vice President for Brazil, announced: "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."