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Subsea 7 pipelay contracts extended

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Oilfield Technology,

Subsea 7 S.A. has announced the award of contract extensions for three pipelay support vessels (PLSVs) that are currently on long-term day-rate contracts offshore Brazil.

The firm contract periods for the Seven Waves, Seven Rio and Seven Sun will now end in 2Q21, 3Q21 and 2Q22, respectively. The extensions have been awarded at the same day-rates and on the same commercial terms as the original contracts.

The extensions have a combined value of approximately US$250 million.

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Upstream news Offshore news Brazil upstream news Oil & gas news