Petrobras grants Subsea7 US$1.25 billion in contracts for pipelay support

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Subsea7 said it was awarded four long-term day-rate contracts from Petrobras, for pipelay support vessels (PLSVs) commencing in 2025.

The contracts have a combined value of over US$1.25 billion and will be recorded in the backlog in the second quarter.

The contracts for the vessels Seven Rio, Seven Cruzeiro and Seven Sun comprise a firm three-year period while the award for Seven Waves comprises a firm four-year period.

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Yann Cottart, Vice-President Brazil for Subsea7, 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.”

Subsea7 provides services for the offshore energy industry and is involved in a pipeline laying job for Guyana’s Gas-to-Energy project.

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