Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a significant contract from Petrobras, following a competitive tender process, for the development of the Búzios 9 field. This field is situated approximately 180 kilometers off the coast of Rio de Janeiro, Brazil, at a depth of 2,000 meters in the pre-salt Santos basin.
The scope of this super-major contract includes engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometers of rigid risers and flowlines. These components are integral to the steel lazy wave production system, which is crucial for efficient oil extraction at such depths.
Project management and engineering activities are set to commence immediately at Subsea 7’s offices in Rio de Janeiro and Paris. The fabrication of the pipelines will be carried out at Subsea 7’s spoolbase in Ubu, located in the state of Espirito Santo, Brazil. Offshore operations are scheduled for execution in 2026 and 2027.
Yann Cottart, Vice-President of Brazil for Subsea 7, expressed enthusiasm about the project, stating, “This new award strengthens our diverse portfolio of projects in Brazil and affirms our position as a trusted contractor of Petrobras. Subsea 7 looks forward to continuing this strong, collaborative relationship as we work together to successfully deliver the Búzios 9 project.”
Subsea 7 defines a super-major contract as one that exceeds $1.25 billion, highlighting the scale and significance of this new venture. This contract not only reinforces Subsea 7’s presence in Brazil but also underscores its capability to undertake large-scale, complex offshore projects.
