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Subsea7 / Media / Company News / Archive / Subsea 7 S.A. awarded contract offshore Brazil

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Subsea 7 S.A. awarded contract offshore Brazil

Luxembourg – October 30, 2013 - Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a contract to its i-Tech division valued at approximately US$60 million by Petrobras.

The contract scope is for the provision of ROV’s and underwater positioning services on board the platform supply vessel (PSV) Far Saga operating offshore Brazil for an initial six year term with options to extend for up to another six years.

i-Tech’s Managing Director, Bruce Masson, commented, "We are pleased to be awarded this contract by Petrobras which further consolidates i-Tech’s position as the leading ROV and intervention tooling provider offshore Brazil. This contract will see the first deployment of our new generation Centurion SP work class ROV on board the PSV. The Centurion SP vehicle is one of the most powerful ROV’s currently available in the market, offering a high thrust to weight ratio which is important when working in areas of high currents."