Subsea 7 Wins $1.25 Billion Pre-salt Project Contract in Brazil from Petrobras

Subsea 7 (SUBC.OL) said Thursday it won a $1.25 billion contract to work on the Sépia 2 pre-salt project in Rio de Janeiro for Brazilian state-run energy giant Petróleo Brasileiro (PJXA.F), or Petrobras.Under the supermajor contract, the Norwegian subsea engineering and construction company will provide engineering, procurement, fabrication, installation, and pre-commissioning services for the Sépia 2 field.Works will be carried out at a water depth of 2,170 meters and will involve 17 wells and a gas export line with 18 risers. Offshore operations at the site are scheduled to begin in 2029.

-- Subsea 7 (SUBC.OL) said Thursday it won a $1.25 billion contract to work on the Sépia 2 pre-salt project in Rio de Janeiro for Brazilian state-run energy giant Petróleo Brasileiro (PJXA.F), or Petrobras.

Under the supermajor contract, the Norwegian subsea engineering and construction company will provide engineering, procurement, fabrication, installation, and pre-commissioning services for the Sépia 2 field.

Works will be carried out at a water depth of 2,170 meters and will involve 17 wells and a gas export line with 18 risers. Offshore operations at the site are scheduled to begin in 2029.