Subsea 7 Signs $200 Million Contract with Petrobras

subsea 7 seven seas
Subsea 7 announced today the winning of a 2-year, USD $200 million subsea installation contract with Petrobras which will utilize the company’s construction and flex-lay vessel, Seven Seas.  This contract will be a direct continuation of an existing day-rate contract that the vessel has been operating under since 2013.

The calculated rate is approximately USD $270,000 per day.

The Seven Seas was built at Royal IHC in the Netherlands in 2008 to LR class and features a 430 ton top-tension pipe-lay system, 2 ROVs, a 350 ton AHC main crane and two carousels that can spool up to 3000 tons of flexibles.

Subsea 7’s Senior Vice President for Brazil, Victor Bomfim, said: “This new contract for Seven Seas maintains our solid presence in the market for PLSVs in Brazil. We are proud to provide continuous service to Petrobras as it develops its complex oil and gas fields offshore Brazil.”