Subsea 7 Wins Over $250 Million Contract From Petrobras

Published: 10-Sep-2009

Subsea 7 Inc. (Subsea 7), a company engaged in subsea engineering and construction, has been awarded a long-term contract by Petroleo Brasileiro S.A (Petrobras) for its pipelay vessel, the Normand Seven. The contract, valued in excess of $250 million, is for the exclusive use of the vessel for a period of four years, commencing in the third quarter of 2009.

Subsea 7's Vice President for Brazil, Victor Bomfim said, "Subsea 7 has a tremendous track record of successful and safe project execution for Petrobras built up over a number of years. We are delighted to extend this relationship with this long term commitment to Subsea 7. It reinforces Subsea 7's position as the Subsea Partner of Choice in the region and recognises the strong local presence that it has developed over many years."

The Normand Seven is a state-of-the-art pipelay vessel fitted with a flexible pipelay system capable of operating in water depths of up to 2,000 meters. She joined the Subsea 7 fleet immediately after her commissioning in 2007 and has worked continuously in Brazil since that time, primarily supporting Petrobras in the development of the Roncador field in the Campos basin.

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