Subsea 7 S.A. was awarded contract extensions for three Pipelay Support Vessels (PLSVs) currently on long-term day-rate contracts offshore Brazil. These extensions have a combined value of approximately USD 250 million.
The firm contract periods for the Seven Waves, Seven Rio and Seven Sun will now end respectively in Q2 2021, Q3 2021 and Q2 2022. The extensions have been awarded at the same day rates and on the same commercial terms as the original contracts.
Vice-President for Subsea 7's Brazil Region, Marcelo Xavier, said that the contract extensions reflect Subsea 7's long-standing relationship with Petrobras. He goes on to say, "We are focused on delivering a safe and reliable performance. We have the right capability and capacity in Brazil to meet our clients' needs."