Subsea7 secures pipelay support vessel contracts from Petrobras [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
The contracts are for pipelay support vessels (PLSVs) in Brazil and have a combined value exceeding $1.25bn. Commencing in 2025, these contracts will be included in the company's backlog in the second quarter (Q2) of that year. The contracts for Seven Rio, Seven Cruzeiro, and Seven Sun cover a three-year term, whereas the contract for Seven Waves extends for a four-year term. Subsea7 vice-president of Brazil Yann Cottart said: “Subsea7 is pleased to extend its successful, long-term relationship with Petrobras that has covered both day rate 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.” In a separate development, Subsea7 disclosed the award of a sizeable contract by Serica Energy for the Belinda field development, offshore UK. The contract, valued between $50m and $150m, involves a comprehensive scope of work i
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