Petrobras has let long-term day-rate contracts to Subsea 7 SA for pipelay support vessels Seven Waves, Seven Rio, and Seven Sun for activities in Brazil.
Each contract comprises a firm 3-year period and a subsequent 1-year option. Seven Waves will begin the new contract in first-quarter 2022. Seven Rio will commence the new contract in second-quarter 2022. Seven Sun will begin the new contract in third-quarter 2022. Before they begin, each vessel will undergo minor modifications requiring a short shipyard stay and modest capital expenditure.
The remaining period of Seven Waves’ and Seven Rio’s current contracts with Petrobras will be transferred to Seven Seas which will be deployed to Brazil in 2022.
The combined value of the contracts is $500-750 million, according to the service provider.
