PBR Petroleo Brasileiro ADR

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 SA (SUBC.OS) said Monday it has been awarded a two-year, $200 million contract from Petrobras (PBR).

The contract covers the installation of flexible lines for Petrobras' projects using Subsea 7's construction and flex-lay vessel Seven Seas, on a day-rate basis.

The vessel has been operating for Petrobras under a similar day-rate contract since 2013 and will commence the new contract in direct continuation to the current one.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

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