Subsea 7 has clinched a lucrative term deal for three cable-laying ships from Petrobras in Brazil.
The Oslo-listed, Kristian Siem-backed oil and gas contractor described the charter transaction as a very large contract worth between $500m and $750m.
Brazilian oil major Petrobras has signed up the 145.9-loa pipelay support vessels (PLSVs) Seven Waves (built 2014), Seven Rio (built 2015) and Seven Sun (built 2016).
Each ship will work for three years, with a one-year option attached.
The Seven Waves will begin in the first three months of 2022. The Seven Rio will join it in the second quarter, followed by the Seven Sun in the third quarter.
The contracts will be recorded as charter backlog in the fourth quarter.
Before the work begins, each PLSV will undergo minor modifications requiring a short shipyard stay and "modest" capital expenditure, Subsea 7 said.
The Seven Waves and Seven Rio are already working for Petrobras in Brazil.
Charters switched over
Their remaining charter periods will be transferred to the 153-loa PLSV sistership Seven Seas (built 2008), which will be moved to Brazil in 2022.
Daniel Hiller, Subsea 7's vice president for Brazil, said: "We value our long-standing relationship with Petrobras and these new contracts reflect well on our track record of delivering successful PLSV activities in Brazil, achieving high standards of safety and a strong operational performance."
Subsea 7 this year merged its renewables division with Arne Blystad's shipping company OHT to form Seaway 7 to target offshore wind farm work.
The combined operation won its first contract in October when Orsted booked its newbuilding Vind1 for two new projects in the German North Sea.
The vessel, under construction in China, will carry and install turbines at the Gode Wind 3 and Borkum Riffgrund 3 sites.
