Subsea7 Secures $1.25 Billion Contract with Petrobras for Búzios 11 Field

Subsea7 has recently announced the successful securing of a contract valued at over $1.25 billion with Brazilian oil and gas giant Petrobras. The contract pertains to the Búzios 11 field, located at a water depth of 2,000 meters off the coast of Rio de Janeiro.

Described as a “super-major” contract, Subsea7’s scope of work includes engineering, procurement, fabrication, installation, and pre-commissioning of a 112-kilometer rigid risers and flowlines system for the Búzios 11 field.

The project management and engineering activities are set to commence immediately at Subsea7’s offices in Rio de Janeiro, Suresnes, and Sutton. The fabrication of pipelines will take place at Subsea7’s spoolbase in Brazil, with offshore activities scheduled for 2027 and 2028.

Yann Cottart, Subsea7’s Senior Vice-President Brazil and Global Projects Centre West, expressed confidence in the company’s ability to deliver complex projects, emphasizing their commitment to operational excellence and safety. Cottart also thanked Petrobras for their trust and highlighted Subsea7’s dedication to contributing to Brazil’s development.

The Búzios field, discovered in 2010 and operational since 2018, ranks second in production volume and reserves in Brazil, following the Tupi field. Operated by Petrobras with a majority stake of 88.98%, the field also involves partnerships with CNOOC (7.34%) and CNPC (3.67%), managed by Pré-Sal Petróleo S.A. (PPSA) and featuring a development plan encompassing 11 platforms.

Notably, this contract marks Subsea7’s continued involvement in the success of the Búzios field, following a similar contract awarded last year for Búzios 9.