Subsea7 was awarded by Petrobras for the subsea development of the Búzios 9 field, approximately 180 kilometres off the coast of Rio de Janeiro, in Santos Basin.
The scope of work includes engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometres of rigid risers and flowlines for the production system. The fabrication of the pipelines will take place in Espirito Santo and offshore operations are expected to last for two years, starting in 2026. Subsea7 didn’t disclose the exact value, but defines as a ‘super-major contract’, being over $1.25 billion, reinforcing the growth of the company in Brazil.
“Two years ago Subsea7 was awarded a contract similar to this one for the development of the Búzios 8 field, worth around USD 750 million”, remembers Omar Darian, Chartering Manager at WSB Advisors.
Subsea7 confirms award
On this monday (03), Subsea7 confirmed the award by Petrobras of four long-term day-rate contracts for PLSVs commencing in 2025. Together, these contracts have a combined value of over $1.25 billion. The contracts for Seven Rio, Seven Cruzeiro and Seven Sun comprise a firm three-year period while the award for Seven Waves comprises a firm four-year period. WSB reported in April further details regarding the commercial classification of the tender, including number of vessels expected to be awarded and daily rate levels.
“Subsea7 is pleased to extend its successful, long-term relationship with Petrobras that has covered both day rate PLSV activities and major greenfield projects since 1998. We look forward to continuing to work together to deliver complex and challenging deepwater developments with high standards of safety and reliability”, said Yann Cottart, Subsea’s Vice-President in Brazil.
