SUBSEA 7 INC. (OSE Symbol: SUB) today announced a contract award by Petroleo Brasileiro S.A. (Petrobras) for its pipelay vessel Kommandor 3000.
The contract, with a value in the region of US $250 million, is for the exclusive use of the Kommandor 3000 for a period of six years commencing in February 2007.
The Kommandor 3000 has been operating for Petrobras in Brazil since 1999 and with a remarkable safety performance with no lost time incidents during the term of their last contract. The vessel will continue to work offshore Brazil in water depths of up to 2000 metres.
Subsea 7’s Vice President for Brazil, Victor Bomfim, said “Subsea 7 has an exceptional working relationship with Petrobras and we are delighted that the long term commitment that has been announced today will see the solid foundations of our business offshore Brazil maintained for the foreseeable future”.
Ends 19 October 2006
Subsea 7 Public Relations:
Pat Stephen Tel: +44 1224 344508 or +44 7712 427608
E-mail: pat.stephen@subsea7.com
Notes to editors:
Subsea 7 is one of the world’s leading subsea engineering and construction contractors with a workforce in excess of 4000 people worldwide. The Company’s global offshore operations are supported out of Asia Pacific, Brazil, Gulf of Mexico, Norway, UK and West Africa. Subsea 7 has more than 100 remotely operated vehicles (ROVs), five pipeline construction yards and a fleet of modern, high-specification dynamically-positioned ships capable of reeled and flexible pipelay, deepwater subsea construction and saturation diving. (www.subsea7.com)
