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Subsea 7 Highlights That Each Contract With Petrobras Includes A Firm Period Of Three Years And A Subsequent Option Of One Year
Subsea 7 announced a major concession from Petrobras for new long-term daily rate contracts for the Pipelay Support Vessels (PLSV) Seven Waves, Seven Rio, and Seven Sun. The offshore installation services company stated yesterday, Tuesday, that the contracts are worth between US$ 500 million and US$ 750 million in total. Each contract with Petrobras includes a firm period of three years and a subsequent option of one year. Also read this news: Subsea 7 Hires For Onshore And Offshore Positions In Rio de Janeiro
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The Vessels That Will Operate On Petrobras Projects
These are new long-term day-rate contracts for the following types of vessels: Pipelay Support Vessels (PLSVs): Seven Waves, Seven Rio, and Seven Sun. Subsea 7’s new contracts will be recorded in the company’s order book in the fourth quarter of 2021. Each of them includes a period of three years with the possibility of renewal for another year.
The Seven Waves will start the new contract in the first quarter of 2022; the Seven Rio in the second quarter of 2022; and the Seven Sun in the third quarter of 2022. The remaining period of the current contracts for the Seven Waves and Seven Rio vessels from Subsea 7 with Petrobras will be transferred to the Seven Seas, which will arrive in Brazil in 2022.
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Subsea 7 Has A Strong Partnership With Petrobras
“Our purpose is to create oceans of value. For this reason, having long-term partners like Petrobras is key. These new contracts reflect well our history of delivering successful PLSV activities in Brazil, achieving high safety standards and strong operational performance,” said Daniel Hiller, Vice President of Subsea 7 Brazil Region.
According to Subsea 7, these contracts bring a contribution to Brazil and Rio de Janeiro by increasing job opportunities, supporting the recovery of the offshore market, as the vessels will increasingly employ Brazilian workers.
Also Check This News: Subsea 7 Aims For New Contracts In The Promising Oil And Gas Sector
According to Marcelo Xavier, Vice President of Subsea 7 in Brazil, the company, which serves the offshore energy sector, intends to sign new contracts in the oil and gas segment in Brazil. The announcement was made by the Vice President of Subsea 7 to Reuters, stating that he sees more dynamism in the sector, with the development of projects by oil companies, in addition to Petrobras.
Subsea 7, a Norwegian engineering, construction, and subsea services company, is awaiting a final decision from the oil company Equinor this month on the important project in the Bacalhau field, located in the Santos Basin, the first pre-salt project to be developed by a foreign company.
In early 2020, Subsea 7 signed a contract with OneSubsea, a Schlumberger company, for the development of projects for subsea infrastructure and platform anchoring in Bacalhau. Today, both companies are waiting for the green light from Equinor to execute the project, whose installations could take place in 2022 and 2023.
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