Petrobras awards Subsea 7 $1B EPIC contract for Guara, Lula field development in Brazil's deepwaters

Source: Subsea 7

Petrobras (NYSE:PBR) has awarded Subsea 7 S.A. (Oslo Børs: SUBC) a $1 billion EPIC contract for the development of the pre-salt deepwater Guará and Lula NE Areas located in BM-S-9 and BM-S-11 of the Santos Basin offshore Brazil, in water depths of approximately 2,200 meters. 

The project scope includes the Engineering, Procurement, Installation and Pre-Commissioning of four decoupled riser systems featuring four submerged buoys each of 1,900 tonnes to be installed at approximately 250 meters below, as well as the sea level buoy foundations and associated tethers. Additionally, the project includes 27 steel catenary risers of 3.9 km and associated pipeline end terminations (PLETs), of which 18 are 7.5” production lines, three are 9.5” water injection lines and six are 8” gas injection lines, as well as associated anchor piles and crossings. 

Engineering and project management work will commence with immediate effect and will be undertaken at our offices in Rio de Janeiro, Brazil. Fabrication of the rigid pipelines will be carried out at the pipeline fabrication spoolbase, which Subsea 7 is developing at Paranaguá, Paraná in Brazil. Offshore installation is scheduled to commence during the second half of 2012, using Seven Oceans, Seven Seas and Skandi Seven. 

“This contract, the first EPIC award on the pre-salt areas, represents a significant development," Jean Cahuzac, Subsea 7’s Chief Executive Officer, "It reflects Subsea 7’s capabilities to apply advanced solutions to meet the increasingly challenging needs of our clients in their complex deepwater subsea developments."

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