Subsea 7 has been awarded two pipelay vessel operation contracts by Petrobras of Brazil worth a combined total of approximately US $850 million.
The company confirmed one contract valued at $400 million for the operation of the Pipe Lay Support Vessel (PLSV) Normand Seven on a dayrate basis for around five years. Operations will start in the fourth quarter of this year, it said. The vessel has operated for Petrobras offshore Brazil for several years and is currently under contract with the client.
Subsea 7 also confirmed the award of a $450 million contract by Petrobras for the operation of the PLSV Seven Phoenix on a day rate basis for five years, with operations starting in the third quarter of this year. This vessel has also operated for Petrobras for several years and is currently under contract to the state-owned major.
The workscope of both contracts is similar to that of other PLSVs that Subsea 7 currently operates offshore Brazil, comprising project management, engineering and installation of flowlines, umbilicals and equipment supplied by Petrobras.
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