Oilfield services firm Subsea 7 reported Thursday that it has won a $400 million contract with Petrobras for the use of Subsea 7's pipe lay support vessel (PLSV) Normand Seven for five years.
The contract extends the Normand Seven's service with Petrobras, which has already used the vessel over several years. The latest contract will see operations start in the fourth quarter of this year.
Subsea 7 said the work scope of the contract is similar to that of other PLSVs that Subsea 7 currently operates offshore Brazil. It will comprise project management, engineering and installation of flowlines, umbilicals and equipment supplied by Petrobras.
Subsea 7's senior vice president for Brazil, Victor Bomfim, commented in a company statement:
"Following on from the recently announced PLSV contract renewals for the K3000 and Seven Phoenix, this contract further strengthens our presence in the day-rate PLSV business segment in Brazil, and we look forward to supporting Petrobras in future developments."
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