Subsea7 wins “major” deepwater oil field contract offshore Brazil worth over $750 million

(WO) – Subsea7 confirmed the award of a major contract amendment by Petrobras for the development of the Mero 4 deepwater oil field located approximately 200 km offshore Rio de Janeiro, Brazil, at 2,200 meters water depth in the pre-salt Santos basin. According to a company statement, the offshore contract is valued over $750 million.

The oil field contract amendment scope includes engineering, procurement, fabrication, installation and pre-commissioning of 76 km of rigid risers and flowlines for the steel lazy wave production system.

Project management and engineering for the offshore oil field development will commence immediately at Subsea7’s offices in Rio de Janeiro and Paris. Fabrication of the pipelines will take place at Subsea7’s spoolbase at Ubu in the state of Espirito Santo, and offshore operations are scheduled to be executed in 2025 and 2026.

Yann Cottart, Vice-President Brazil said, “This contract builds on decades of experience executing major EPCI projects around the world and extends our portfolio of projects in Brazil. Subsea7 looks forward to continuing its strong, collaborative relationship with Petrobras as we work together to successfully deliver the Mero 4 project.”

Mero 4 is the fourth definitive project of Mero Unitized Field in Pre-salt that is operated by Petrobras (38.6%), in partnership with Shell Brasil (19.3%), TotalEnergies (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo SA (PPSA) (3.5%).