Subsea 7 has been awarded a very large contract by Petrobras on May 24 for the development of the Mero-3 field located approximately 200 km off the coast of the state of Rio de Janeiro, Brazil, at 2,200 m water depth in the pre-salt Santos basin.
The contract scope includes engineering, fabrication, installation and pre-commissioning of 80 km of rigid risers and flowlines for the steel lazy wave production system, 60 km of flexible service lines, 50 km of umbilicals and associated infrastructure, as well as installation of FPSO mooring lines and hook-up.
Project management and engineering will commence immediately at Subsea 7’s offices in Rio de Janeiro and Paris. Fabrication of the pipelines will take place at Subsea 7’s spoolbase at Ubu in the state of Vitória and offshore operations are scheduled to be executed in 2023 and 2024, using Subsea 7’s fleet of reeled rigid pipelay vessels.
“This contract builds on our strong, collaborative relationship with Petrobras and track record of executing major EPCI projects globally,” Marcelo Xavier, vice-president of Brazil, said. “Subsea 7 looks forward to working closely with Petrobras to successfully deliver the project.”
Subsea 7 defines a very large contract as being between $500 and $750 million.
Recommended Reading
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.
OGInterview: Building EIV Capital’s Midstream Investment Strategy
2024-05-01 - Midstream-focused EIV Capital has added non-operated assets and transition projects to its portfolio as a sign of the times.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.