Subsea7 bags Petrobras award worth over $1.25 billion

RIO DE JANEIRO, September 17, 2024 – Subsea7 has won a contract worth more than USD 1.25 billion from Brazil’s Petrobras for work on the Búzios 9 offshore field, the EPC player announced on Monday.

Subsea7’s scope of work covers engineering, procurement, fabrication, installation and pre-commissioning of 102 kilometres of rigid risers and flowlines for the steel lazy wave production system.

The company will immediately begin project management and engineering work and plans to undertake fabrication of the pipelines at its spoolbase in the Brazilian state of Espirito Santo.

Following this, offshore operations are scheduled to be executed in 2026 and 2027.

“This new award strengthens our diverse portfolio of projects in Brazil and affirms our position as a trusted contractor of Petrobras,” said Yann Cottart, Subsea7’s vice-president for Brazil.

The Buzios field came on line in 2018. It is situated 180 kilometres offshore in water depths of more than 2,000 metres. Its recoverable resources are estimated at 11.3 billion boe.

SLB and Baker Hughes have also won contracts for work on the Brazilian mega-project this year.

Photo courtesy of Petrobras.

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