Subsea 7 Wins More Brazil Work for PLSVs

UK-based oilfield services Subsea 7 reported Monday that it had won two contracts with a combined value in excess of $600 million to provide pipelay support vessels (PLSVs) to Petrobras.

The contracts will see the PLSVs Seven Mar and Seven Condor operating for Petrobras on a day-rate basis for approximately three years, with operations starting toward the end of 2013 for Seven Mar and in the third quarter of 2014 for the Seven Condor.

The contracts are effectively an extension, since both vessels have operated for Petrobras for several years and are currently under contract to the firm. The work scope comprises project management, engineering and installations of flowlines, umbilicals and equipment supplied by Petrobras.

Petrobras' senior vice president for Brazil, Victor Bomfim, commented in a company statement:

"Following on from the renewal of contracts for the K3000, Seven Phoenix and Normand Seven, the renewal of contracts for Seven Mar and Seven Condor 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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