Subsea7 vessels win $1.25-billion engagement in Brazil

LUXEMBOURG, June 4, 2024 – Subsea7 has been awarded four long-term day-rate contracts by Petrobras for pipe-laying support vessels (PLSVs), Subsea7 announced on Monday.

The contracts have a combined value of more than USD 1.25 billion and will commence in 2025. Subsea7 noted they will be recorded to its backlog in the second quarter.

PLSVs Seven Cruzeiro, Seven Rio and Seven Sun have been engaged for a firm three-year period, while Seven Waves has been chartered for four years. All four contracts will be carried out in Brazil.

“Subsea7 is pleased to extend its successful, long-term relationship with Petrobras that has covered both PLSV activities and major greenfield projects since 1998. We look forward to continuing to work together to deliver complex and challenging deepwater developments with high standards of safety and reliability,” said Yann Cottart, vice-president of Subsea7 in Brazil.

Subsea7 had previously announced in May 2024 the award of a “super-major” contract by Petrobras for the engineering, procurement, fabrication, installation and pre-commissioning of 102 kilometres of rigid risers and flowlines in Brazil. The company defines a super-major contract as being over USD 1.25 billion in value.

Photo courtesy of Subsea7

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