Subsea 7 Wins Pipelay Contract from Petrobras

Subsea 7 has been awarded a contract by Petroleo Brasileiro S.A. (Petrobras) for its pipelay vessel Kommandor 3000.

The contract, with a value of approximately US $250 million, is for the exclusive use of the Kommandor 3000 for a period of six years commencing in February 2007.

The Kommandor 3000 has been operating for Petrobras in Brazil since 1999 and with a remarkable safety performance with no lost time incidents during the term of their last contract. The vessel will continue to work offshore Brazil in water depths of up to 2000 meters.

Subsea 7's Vice President for Brazil, Victor Bomfim, said "Subsea 7 has an exceptional working relationship with Petrobras and we are delighted that the long term commitment that has been announced today will see the solid foundations of our business offshore Brazil maintained for the foreseeable future".