Seadrill, SapuraKencana JV's first pipe-laying vessel starts Petrobras job

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Seadrill (SDRL) says it has started work with its first pipe-laying vessel in Brazil's offshore Campos Basin for Petrobras, three months ahead of the contracted delivery date.

The five-year project to be completed through a SDRL joint venture with SapuraKencana and IHC Merwede began three months ahead of schedule and has an estimated value of $445M during its initial term, which also can be renewed for an additional five years.