Subsea 7 has clinched one-year extensions worth £117 million to the contracts for three pipelay support vessels with Brazilian operator Petrobras.
Seven Waves, Seven Rio and Seven Cruzeiro will operate at a new day-rate with effect from 1 August 2020 and their firm contract periods will now end in Q2 2022, Q3 2022 and Q4 2022 respectively.
Seven Sun will complete its current contract in Q2 2022 at its prevailing day-rate.
Marcelo Xavier, Vice-President Brazil, said: “These contract extensions reflect our long-standing relationship with Petrobras and desire by both parties to reach a mutually beneficial solution in these challenging times.
“We remain focused on performing safely and to a high standard for our valued client.”