New offshore pipe laying contract for Subsea 7

Source:Subsea 7

The offshore Brazil contract is for the operation of the Pipe Lay Support Vessel Seven Phoenix. Subsea 7 S.A. (Oslo Børs: SUBC) announced the award of a contract with a value (at the time of contract signature) of around U$450 million from Petrobras. The contract is for the operation of the Pipe Lay Support Vessel (PLSV) Seven Phoenix on a day rate basis for five years, with operations starting in the third quarter of this year.

The vessel has operated for Petrobras for several years and is currently under contract with this client. 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, umbilicals and equipment supplied by Petrobras.

Victor Bomfim, Senior Vice President for Brazil, said: “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.”

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