Subsea 7 Gets $1 Billion Petrobras Contract Offshore Brazil
April 07 2011 - 3:25AM
Dow Jones News
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A.
(SUBC.OS) Thursday said it has inked a $1 billion deal with
Petroleo Brasileiro SA (PBR), known as Petrobras, for deepwater
development offshore Brazil.
The project includes engineering, procurement, installation and
pre-commissioning of four decoupled riser systems.
Development is for the Pre-Salt deepwater Guara and Lula North
East Areas located in the Santos Basin, offshore Brazil, in water
depths of approximately 2,200 meters.
Project management work is to start immediately and offshore
installation is scheduled to commence during the second half of
2012, the firm said.
Subsea 7 shares closed at NOK143.30 Wednesday.
-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097;
katarina.gustafsson@dowjones.com