Subsea7 awarded major contract offshore Brazil

Subsea7 today confirmed the award of a major¹ contract amendment by Petrobras for the development of the Mero 4 field² located approximately 200 kilometres off the coast of the state of Rio de Janeiro, Brazil, at 2,200 metres water depth in the pre-salt Santos basin. The award was announced in redacted form on 27 September 2023³ and was recorded in backlog in the third quarter of 2023.

The contract amendment scope includes engineering, procurement, fabrication, installation and pre-commissioning of 76 kilometres of rigid risers and flowlines for the steel lazy wave production system.

Project management and engineering will commence immediately at Subsea7’s offices in Rio de Janeiro and Paris. Fabrication of the pipelines will take place at Subsea7’s spoolbase at Ubu in the state of Espirito Santo and offshore operations are scheduled to be executed in 2025 and 2026.

Yann Cottart, Vice-President Brazil said: “This contract builds on decades of experience executing major EPCI projects around the world and extends our portfolio of projects in Brazil. Subsea7 looks forward to continuing its strong, collaborative relationship with Petrobras as we work together to successfully deliver the Mero 4 project.”

_{1. Subsea7 defines a major contract as being one where its share of revenue is over USD 750 million.}

_{2. Mero 4 is the fourth definitive project of Mero Unitized Field in Pre-salt that is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo SA (PPSA) (3.5%), representing the Government in the non-contracted area.}

_{3. https://newsweb.oslobors.no/message/600343}