i-Tech Wins Contracts in South America and West Africa

Subsea 7 Inc. through its recently created division, Subsea 7 i-Tech today announced the award of four new contracts.

i-Tech which was formed to focus upon the requirements of the dynamic drilling support market has been awarded four new long term contracts in Brazil and Equatorial Guinea for the provision of ROV and intervention tooling services. Three contracts are by Petrobras, offshore Brazil, to provide ROVs onboard three drilling units with an approximate combined term of 10 years with options to extend to a maximum of 7 years collectively. i-Tech has also been awarded a contract by Exxon Mobil affiliate Mobil Equatorial Guinea Inc. (MEGI) for two ROV's onboard a drilling unit and a vessel for work offshore Equatorial Guinea.

i-Tech's Managing Director, Neil Milne, commented, "These awards are the result of the improved focus i-Tech has brought to Subsea 7's Drill Rig operations. We look forward to supplying exemplary service to both Petrobras and MEGI in the coming years and building further on the relationship with these two prestigious clients".