Subsea 7 seals $1.25bn pipelay support vessels deal in Brazil

Oslo-listed Subsea 7 has landed a new billion-dollar deal with Petrobras by fixing four pipelay support vessels (PLSVs) from 2025.

The contracts with a combined value of over $1.25bn cover the PLSVs Seven Rio, Seven Cruzeiro, Seven Sun and Seven Waves.

All ships have a history of operating on deepwater developments for Brazil’s state-owned oil giant.

The 2014-built Seven Waves has been contracted for four years while the remaining trio has been fixed for three years.

In May, Subsea 7 won another Petrobras contract worth over $1.25bn for work on the Búzios 9 field development, in the pre-salt Santos basin. offshore operations for this project are scheduled to be executed in 2026 and 2027.

Also last month, Seabras Sapura, a Brazilian joint venture between Malaysian offshore player Sapura Energy and Paratus Energy Services, sealed contracts with Petrobras for a full fleet of six PLSVs worth around $1.8bn.

Read the latest issue of the OGV Energy magazine HERE