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Oct. 21, 2013, 10:49 AM
- Subsea 7 (SUBCY) says it won two contracts with a combined value in more than $600M to provide pipelay support vessels to Petrobras (PBR).
- The contracts are for operation of the PLSVs Seven Mar and Seven Condor on a day rate basis for some three years, with operations starting toward the end of 2013 for Seven Mar and in Q3 2014 for Seven Condor.
- The contracts are effectively an extension, since both vessels have operated for PBR for several years and are currently under contract to the firm.
Jul. 8, 2013, 8:40 AMSubsea 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. | Comment!
Jul. 2, 2013, 8:22 AM
Jun. 27, 2013, 8:15 AMEuropean oil service companies cite issues in Brazil - Petrobras' (PBR) negotiating tactics and government demands - for contributing to a spate of earnings disappointments. The trend continues as Subsea 7 (SUBCY.PK) warns it will miss its 2013 profit forecast due to cost $250M-$300M in overruns at its Guará-Lula project offshore Brazil. | Comment!
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