Petrobras Awards Subsea 7 $300 Mln Contracts Offshore Brazil

Subsea 7 S.A. announced the award of three contracts with a combined value in excess of US$300 million from Petrobras.

The scope of work comprises the installation of flexible lines by the Seven Seas , under two lump sum contracts and one day rate contract.

The lump sum contract s encompass the installation of two export flexible Lazy Wave Risers at the Sapinhoa and Lula NE fields in the Santos Pre-Salt Basin in water depths of approximately 2,100 meters.

The day-rate contract encompasses the project management, engineering and installation of Petrobras - supplied flowlines and umbilicals. Operations will commence in 2013.

Victor Bomfim , Subsea 7 Senior Vice President for Brazil, said: “We’re proud to be selected by Petrobras to perform these important projects, using our in - depth experience of operating in ultra - deep water. We look forward to supporting Petrobras in future developments.”

Press Release, March 13, 2013

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