Subsea 7 (SUBCY.PK) announces the award of three contracts from Petrobras (PBR) worth a total...

|About: Subsea 7 S.A. ADR (SUBCY)|By:, SA News Editor

Subsea 7 (SUBCY.PK) announces the award of three contracts from Petrobras (PBR) worth a total $1.6B for the construction and operation of three newbuild pipe-lay support vessels. The work scope is similar to the PLSVs Subsea 7 already operates offshore Brazil, comprising project management, engineering and installation of flowlines, umbilicals and equipment supplied by PBR.