By Dominic Chopping
Subsea 7 Tuesday confirmed the award of a major contract from Petrobras for the development of the Mero 4 oil field, offshore Brazil.
The Norwegian offshore energy services firm said the contract was announced in redacted form last month and was recorded in its third-quarter 2023 backlog.
The contract includes engineering, procurement, fabrication, installation and pre-commissioning of 76 kilometres of pipework with project management and engineering starting immediately and offshore operations scheduled for 2025 and 2026, it said.
Subsea 7 defines a major contract as one where its share of revenue is over $750 million.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
10-31-23 1035ET