Subsea 7 Early Terminates Contract Offshore Brazil

Source: www.gulfoilandgas.com 6/1/2016, Location: South America

Subsea 7 S.A. announced the early termination of the day-rate contract for Subsea 7’s Pipelay Support Vessel (PLSV), Seven Mar, working for Petrobras, offshore Brazil, effective 31 May 2016. The contract was due to expire at the end of 2016 and as a result the Group backlog has diminished by approximately USD 47 million.

Brazilian maritime law prioritises Brazilian-flagged vessels over international vessels of a similar specification. As a consequence, the operating licence for Seven Mar has expired, which resulted in the early termination of the contract.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


Brazil >>  12/6/2024 - Discussing solutions and projects for the development of the offshore oil and gas market and its supply chain is one of the objectives of the FPSO Sup...
Vietnam >>  12/2/2024 - PTSC Asia Pacific (“PTSC AP”), a joint venture between Yinson Production (49%) and PetroVietnam Technical Services Corporation (“PTSC”; 51%), has ex...

Brazil >>  11/29/2024 - Petrobras informs that it has initiated a new procurement process for the construction of up to two FPSO oil production units for the Sergipe Deep Wat...
Nigeria >>  11/28/2024 - Eni’s subsidiary Nigerian Agip Exploration Limited (NAE) and STAC Marine celebrate one year of successful collaboration for the operation and maintena...

Guyana >>  11/21/2024 - SBM Offshore announces it has completed the project financing of FPSO Jaguar for a total of US$1.5 billion.

The project financing was f...

Brazil >>  11/17/2024 - Yinson Holdings Berhad (“Yinson”) proudly hosted Malaysia Prime Minister, The Honourable Anwar Ibrahim at a networking reception in Rio de Janeiro t...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.