Subsea 7 Lands $200 Million Petrobas Contract

gCaptain
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December 8, 2011

Subsea 7 S.A. (Oslo Børs: SUBC) announced today the award of a SURF contract valued at approximately $200 million from Petróleo Brasileiro S/A (“Petrobras”) on Campos Basin, 80km from the Brazilian coast.

The contract scope includes the management, engineering, procurement and installation of two rigid oil lines of 4.5km x 34”OD at water depths of 70 metres, umbilicals and subsea related equipments.

The subsea layout is comprised by an offshore terminal for oil temporary storage and offloading (Transfer and Export Offshore Unit) and two mono-buoys connected to the subsea system (pipeline and equipment) through flexible hoses and umbilicals.

Engineering and project management will commence immediately with offshore operations due to commence in the first half of 2013 utilising a number of Subsea 7’s pipelay and construction vessels.

Source: Subsea 7 S.A.

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