Petrobras Extends Contract With Subsea 7 for 3 PLSV Vessels in Operation

Written by Paulo Nogueira

Published on 04/09/2020 at 05:39

Updated on 04/09/2020 at 06:58

Navio PSLV Seven Waves – Subsea 7

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The PLSV Support Vessels Seven Waves, Seven Rio, and Seven Cruzeiro From Subsea 7 Will Continue Operating for Petrobras for Another Year

Subsea 7 has secured a one-year extension with Petrobras for the current long-term contracts with daily rates for three pipelay support vessels (PLSVs) operating offshore Brazil.

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Specifically, the extensions have a combined value of approximately $155 million, net of agreed reductions to current daily rates, and increase the order backlog for the four Brazilian PLSVs to $493 million as of August 31, 2020.

The Seven Waves, Seven Rio, and Seven Cruzeiro will operate with a new daily rate from August 1, 2020, for Petrobras.

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Additionally, the firm contract periods will now end in the second quarter of 2022, the third quarter of 2022, and the fourth quarter of 2022, respectively.

Moreover, the Seven Sun will complete its current contract in the second quarter of 2022 at the prevailing daily rate.

Marcelo Xavier, Vice President for Brazil, said: “These contract extensions reflect our long-standing relationship with Petrobras and both parties’ desire to reach a mutually beneficial solution in these challenging times. We remain focused on delivering safe and high-standard performance for our valued client.”

Subsea 7 Wins Contract in Trinidad and Tobago – The scope of Subsea 7’s contract covers project management, engineering, procurement, installation, and pull-in of a rigid subsea flowline and flexible riser, along with flexible flowlines and associated subsea infrastructure and umbilical system. Learn more here about this new acquisition.

Curiosity – Characteristic Equipment of a PLSV Vessel

Summary: Some equipment is commonly present in the construction of vessels of this kind, such as: Reel or Spools, Tensioners, Cranes, Winches, Baskets, ROV, and DP System.

Reel or Spool: It is responsible for storing rigid or flexible pipes during transport to the launch site. When used for loading rigid pipes, reels must have a large internal diameter to minimize the plastic deformations to which the pipes will be subjected during winding. Current vessels of this type have internal diameters greater than 15 meters. Flexible pipes have a minimum bending radius that is an order of magnitude smaller than that of rigid pipes, around 3m. Contribution by Willys Tavares.

Petrobras Extends Contract With Subsea 7 for 3 PLSV Vessels in Operation

The PLSV Support Vessels Seven Waves, Seven Rio, and Seven Cruzeiro From Subsea 7 Will Continue Operating for Petrobras for Another Year

More Relevant Macroeconomic News

Curiosity – Characteristic Equipment of a PLSV Vessel

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Petrobras Extends Contract With Subsea 7 for 3 PLSV Vessels in Operation

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