Subsea 7 points out that each contract with Petrobras comprises a three-year firm period and a subsequent one-year option.

Subsea 7 has announced a major concession from Petrobras for new long-term daily rate contracts for the pipeline support vessels (PLSV) Seven Waves, Seven Rio and Seven Sun. The offshore installation services company said Tuesday that the contracts are worth between $500 million and $750 million in total. Each contract with Petrobras comprises a three-year firm period and a subsequent one-year option. Also read this news: Subsea 7 hires for onshore and offshore vacancies in Rio de Janeiro

• Multinational Amazon has 400 job vacancies open for São Paulo, Rio de Janeiro, Minas Gerais and more
• Port of Santos – Several job vacancies are being offered in the port sector
• Engie signs agreement with the Government of Ceará for a green hydrogen project at the Port of Pecém
• Embraer signs contract with Fokker to develop new projects in commercial and defense aviation
• Ministry of Infrastructure discloses that mining companies forwarded requests for the construction of new railroads

The vessels that will work in Petrobras projects

These are new contracts day rate long term for vessels of the type: Pipelay Support Vessels (PLSVs): Seven Waves, Seven Rio and Seven Sun. The new Subsea 7 businesses will be booked in the company's fourth quarter of 2021. Each of them comprises a period of three years with the possibility of renewal for another year.

Seven Waves will start the new contract in the first quarter of 2022; Seven Rio in the second quarter of 2022; and Seven Sun in the third quarter of 2022. The remaining period of the current contracts of 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.

Subsea 7 has a strong partnership with Petrobras

“Our purpose is to generate oceans of value. For this reason, having long-term partners like Petrobras is key. These new contracts well reflect our track record of delivering successful PLSV activities in Brazil, achieving high safety standards and strong operational performance,” said Vice President of Subsea 7 Region Brazil, Daniel Hiller.

According to Subsea 7, these contracts contribute to Brazil and Rio de Janeiro to increase job opportunities, supporting the revival of the offshore market, since the vessels will increasingly rely on Brazilian workers.

Check out this news: Subsea 7 targets new contracts with 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, awaits, this month, a final decision from the oil company Equinor, on the important project in the Bacalhau field, located in the Santos Basin, the first of the pre-salt to be developed by a foreign company.

In early 2020, Subsea 7 signed a contract with OneSubsea, owned by Schlumberger, to develop projects for subsea infrastructure and platform anchoring in Bacalhau. Today, the two companies are waiting for Equinor's green light to execute the project, whose installations could take place in 2022 and 2023.