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Subsea 7 secures $250m extensions from Petrobras

Subsea 7 secures $250m extensions from Petrobras
Subsea 7 has been awarded contract extensions by Petrobras for three pipelay support vessels currently on long-term contracts offshore Brazil.

The extensions, which have been awarded at the same day rates and on the same commercial terms as the original contracts, have a combined value of approximately $250m.

The firm contract periods for the Seven Waves, Seven Rio and Seve Sun will now end respectively in Q2 2021, Q3 2021 and Q2 2022.

''These contract extensions reflect our long-standing relationship with Petrobras. We are focused on delivering a safe and reliable performance. We have the right capability and capacity in Brazil to meet our clients' needs,'' said Marcelo Xavier, vice president for Subsea 7's Brazil region.

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