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 Seven 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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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