Subsea7 has confirmed the award of a major contract amendment by Petrobras for the development of the Mero 4 field, located approximately 200 kilometers off the coast of the state of Rio de Janeiro, Brazil. The field is situated at a water depth of 2,200 meters in the pre-salt Santos basin.
A major contract, as defined by Subsea7, is one where the company’s share of revenue exceeds US$750 million. This award, originally announced in redacted form on September 27, 2023, has now been recorded in backlog for the third quarter of 2023.
According to Subsea7, the scope of the contract amendment encompasses various aspects, including engineering, procurement, fabrication, installation, and pre-commissioning of 76 kilometers of rigid risers and flowlines designed for the steel lazy wave production system.
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Immediate project management and engineering activities will commence at Subsea7’s offices in Rio de Janeiro and Paris. The fabrication of the pipelines will take place at Subsea7’s spool base located at Ubu in the state of Espirito Santo. Offshore operations are scheduled for execution in 2025 and 2026.
Yann Cottart, Vice-President Brazil at Subsea7, stated, “This contract builds on decades of experience executing major [engineering, procurement, construction and installation] projects around the world and extends our portfolio of projects in Brazil. Subsea7 looks forward to continuing its strong, collaborative relationship with Petrobras as we work together to successfully deliver the Mero 4 project.”
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Mero 4 represents the fourth definitive project of the Mero Unitized Field in the pre-salt region, operated by Petrobras (38.6%). It is a partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%), and Pré-Sal Petróleo SA (PPSA) (3.5%), which represents the government’s interest in the non-contracted area.
