Oil and Gas World

24 Feb 2023
Subsea7 announces contract extension in Brazil



Subsea7 today announced a sizeable1 award by Petrobras for a pipelay support vessel (PLSV) offshore Brazil. The agreement extends an existing contract for Seven Cruzeiro from February until November 2023.

Daniel Hiller, Vice-President Brazil, said: "This extension reflects our track record of delivering successful PLSV activities in Brazil, achieving high standards of safety and a strong operational performance. We look forward to continuing our successful relationship with Petrobras.”

(1) Subsea7 defines a sizeable contract as being between USD 50 million and USD 150 million.

Subsea7 awarded four PLSV contracts in Brazil

3 June 2024



Subsea7 announce, after a competitive tender process, the award by Petrobras of four long-term day-rate contracts for pipelay support vessels (PLSVs) commencing in 2025. The contracts have a combined value of over $1.25 billion and will be recorded in the backlog in the second quarter.

The contracts for 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.

Yann Cottart, Vice-President Brazil, 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.”