Subsea 7 Lands $1B Gig from Petrobras

Petrobras has awarded Subsea 7 a US $1 billion contract for pre-salt development of the deepwater Guara and Lula NE areas.

The engineering, procurement, installation and pre-commissioning of four decoupled riser systems includes four 2,094 tons (1,900 tonnes) of submerged buoys at 820 feet (250 meters) below the sea level buoy foundations and 27 steel catenary risers associated pipeline end terminations.

Engineering work has commenced, and offshore installation is scheduled for the second half of 2012. The oil fields are located in the Santos Basin, offshore Brazil, in a water depth of about 7,218 feet (2,200 meters).  

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