Subsea7 announced a sizeable(1) award by Petrobras for a pipelay support vessel (PLSV) offshore Brazil. The agreement extends an existing contract for Seven Cruzeiro from February until November 2023.

Daniel Hiller, Vice-President Brazil, said: "This extension reflects our track record of delivering successful PLSV activities in Brazil, achieving high standards of safety and a strong operational performance. We look forward to continuing our successful relationship with Petrobras.”

(1) Subsea7 defines a sizeable contract as being between USD 50 million and USD 150 million.

About Subsea 7

Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea 7 is listed on the Oslo Bors (SUBC).

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.