LUXEMBOURG – Petrobras has awarded Subsea 7 S.A. (Oslo Børs: SUBC) two contracts with a combined value of more than $600 million.
These call for operation of thepipelay support vessels (PLSVs) on a day rate basis for roughly three years, with operations starting toward the end of 2013 for Seven Mar and 3Q 2014 for Seven Condor.
Both vessels arealready under contract to Petrobras. The work scope of the new deal contract is similar to agreements for other PLSVs which Subsea 7 operates off Brazil. It comprises project management, engineering, and installation of flowlines, umbilicals, and equipment supplied by Petrobras.