SUBSCRIBE
PROFILE

Subsea 7 wins new contracts in Brazil

Subsea 7 signs long-term contracts with Petrobras for the Seven Waves, Seven Rio and Seven Sun pipelay support vessels (PLSVs), with firm three-year periods and deliveries scheduled by Q4 2022.

Share:

sun

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Subsea 7 signs several long-term daily rate contracts with Petrobras. The transaction concerns Seven Waves, Seven Rio and Seven Sun pipelay support vessels (PLSVs), Seven Rio and Seven Sun.

Subsea 7 prepares several vessels

While the entire order will be delivered by the fourth quarter of 2022, each contract comprises a firm three-year period (plus one optional year). What’s more, the contract for each vessel begins at a different time: first quarter for Seven Waves, second for Seven Rio and third for Seven Sun. The ships will first have to undergo some modifications in the shipyard.

The remaining period of Seven Waves ‘ and Seven Rio’s current contracts with Petrobras will be transferred to Seven Sea. According to Brazilian vice-president Daniel Hiller

“These new contracts reflect our track record in delivering successful PLSV activities in Brazil”.

  • Popular on energynews.pro
143 US solar companies call for end to federal permitting freeze
Diesel margins hit yearly high amid geopolitical tensions
Colombia: electrification could avoid $190mn in gas imports by 2030
US oil activity slows as gas drives M&A rebound in 2026
GE Vernova to supply 42 turbines for new Greenvolt wind farm in Romania
Oil prices rise amid military escalation and diplomatic deadlock
Oil prices climbed, driven by Ukrainian strikes on Russian infrastructure and the lack of diplomatic progress between Moscow and Washington over the Ukraine conflict.
Chevron sets 2026 investment budget between $18 and $19 billion
Chevron has announced a capital expenditure range of $18 to $19 billion for 2026, focusing on upstream operations in the United States and high-potential international offshore projects.
ExxonMobil shuts down steam cracker in Singapore and redirects assets to China
ExxonMobil is shutting down its oldest ethylene steam cracker in Singapore, reducing local capacity to invest in its integrated Huizhou complex in China, amid regional overcapacity and rising operational costs.
South America strengthens its role in global oil supply through 2030
Brazil, Guyana, Suriname and Argentina are expected to provide a growing share of non-OPEC+ oil supply, backed by massive offshore investments and continued exploration momentum.
Venezuelan crude exports to Europe drop by 75% in 2025
The revocation of US licences limits European companies’ operations in Venezuela, triggering a collapse in crude oil imports and a reconfiguration of bilateral energy flows.
Bourbon secures five-year contract with ExxonMobil for Angola’s Block 15
Bourbon has signed an agreement with ExxonMobil for the charter of next-generation Crewboats on Angola’s Block 15, strengthening a strategic cooperation that began over 15 years ago.
Shadow fleet renews tankers to bypass sanctions and operational risks
Faced with tighter legal frameworks and reinforced sanctions, grey fleet operators are turning to 15-year-old VLCCs and scrapping older vessels to secure oil routes to Asia.
ReconAfrica identifies 64 metres of recoverable oil at Kavango West 1X well in Namibia
Reconnaissance Energy Africa completed drilling at the Kavango West 1X onshore well in Namibia, where 64 metres of net hydrocarbon pay were detected in the Otavi carbonate section.
CNOOC launches production at Weizhou 11-4 oilfield in South China Sea
CNOOC Limited has started production at the Weizhou 11-4 oilfield adjustment project and its satellite fields, targeting 16,900 barrels per day by 2026.
Shell and Equinor finalise the creation of Adura, largest independent North Sea producer
The Adura joint venture merges Shell and Equinor’s UK offshore assets, becoming the leading independent oil and gas producer in the mature North Sea basin.
Citgo shifts under Elliott control for $5.9bn pending U.S. approval
A Delaware court approved the sale of PDV Holding shares to Elliott’s Amber Energy for $5.9bn, a deal still awaiting a U.S. Treasury licence through OFAC.
Nigeria releases $100mn to accelerate local integration in the oil sector
A new $100mn fund has been launched to support Nigerian oil and gas service companies, as part of a national target to reach 70% local content by 2027.
Sanctions against Rosneft and Lukoil redirect oil flows toward Asia
Western measures targeting Rosneft and Lukoil deeply reorganise oil trade, triggering a discreet yet massive shift of Russian export routes to Asia without causing global supply disruption.
Nigeria auctions 50 oil blocks in its 2025 licensing round
The Nigerian Upstream Petroleum Regulatory Commission opens bidding for 50 exploration blocks across strategic zones to revitalise upstream investment.
Nigeria auctions 50 oil blocks in its 2025 licensing round
La Nigerian Upstream Petroleum Regulatory Commission ouvre la compétition pour 50 blocs d’exploration, répartis sur plusieurs zones stratégiques, afin de relancer les investissements dans l’amont pétrolier.
Serbia forced to shut down its only refinery after US sanctions
Serbia's only refinery, operated by NIS, has suspended production due to a shortage of crude oil, a direct consequence of US sanctions imposed on its majority Russian shareholder.
Oil prices rise amid tensions between Washington and Caracas
Crude prices increased, driven by rising tensions between the United States and Venezuela and drone attacks targeting Russian oil infrastructure in the Black Sea.
Tullow Oil cuts board size and seeks to refinance $1.8 bn debt
Amid persistent financial losses, Tullow Oil restructures its governance and accelerates efforts to reduce over $1.8 billion in debt while refocusing operations on Ghana.
Baghdad invites US companies to replace Lukoil on West Qurna 2
The Iraqi government is inviting US oil companies to bid for control of the giant West Qurna 2 field, previously operated by Russian group Lukoil, now under US sanctions.
Two tankers targeted in the Black Sea, Ankara warns over maritime security
Two tankers under the Gambian flag were attacked in the Black Sea near Turkish shores, prompting a firm response from President Recep Tayyip Erdogan on growing risks to regional energy transport.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.