One Energy News

Tag: Subsea7

  • Cade approves Subsea7-Saipem merger

    Cade approves Subsea7-Saipem merger

    Brazil’s Administrative Council for Economic Defense (Cade) has approved, without restrictions, the proposed merger between Subsea7 and Saipem.

    The transaction, which will combine Saipem and Subsea7 into one of the world’s largest offshore engineering and construction groups, was reviewed for its potential impact on Brazil’s subsea installation and maintenance services market. Cade concluded that the combination does not raise significant competition concerns in the country’s offshore oil and gas sector, marking another regulatory milestone for the transaction.

    Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.

  • Offhsore moves: Chartering & strategy

    Offhsore moves: Chartering & strategy

    Chartering & Strategy

    Subsea7, through the Subsea Integration Alliance (SIA), has secured a contract with Equinor to conduct concept studies for Phase 2 of the Bacalhau field in Brazil’s pre-salt Santos Basin.

    The strategic alliance between Subsea7 and SLB OneSubsea brings together teams from the UK, Norway and Brazil.

    Phase 1, expected to start production later this year, is already considered a technological benchmark. The Bacalhau FPSO, featuring MODEC’s next-generation M350 hull, will have a processing capacity of 220,000 barrels per day and connect 19 subsea wells in ultra-deep waters.

    With estimated recoverable reserves exceeding 2 billion barrels of oil equivalent, Bacalhau is operated by Equinor in partnership with ExxonMobil, Petrogal Brasil S.A. and PPSA (Pré-Sal Petróleo S/A).

    Meanwhile, Solstad Offshore has officially signed a long-term contract with Petrobras for the AHTS vessel Normand Turquesa.

    The contract is scheduled to begin in February 2026 and will run for four years, with an estimated gross value of approximately USD 84 million. This agreement follows a series of recent awards between Solstad and Petrobras, reinforcing the vessel’s owners strong positioning in Brazil’s deepwater support segment.

    To know more, visit: cms.oneenergynews.com or contact us: Comercial@cms.oneenergynews.com

  • Subsea7 Secures Over $1.25 Billion Contract for Búzios 11 with Petrobras

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

    Subsea7 has been awarded a major contract by Petrobras for the development of Búzios 11 in the Santos Basin. The scope includes engineering, procurement, fabrication, installation, and pre-commissioning of 112 kilometers of rigid risers and flowlines. Offshore activities are scheduled across 2027 and 2028.

    This contract reinforces Subsea7’s expanding role in Brazil, following other significant awards with Petrobras such as vessel charters and key development packages for Búzios 8 and Búzios 9. According to the company’s classification, a “major contract” is valued at over USD 1.25 billion.

    Subsea7 highlighted its technical execution and project delivery capabilities as key to securing this new milestone. “This award again underscores Subsea7’s proven expertise in delivering complex, world-scale size projects, reinforcing our strong execution capabilities and commitment to operational excellence and safety,” said Yann Cottart, SVP for Brazil and Global Projects Centre West.

  • Merger: Saipem and Subsea7

    Merger: Saipem and Subsea7

    By Rafael Bortoloti

    Saipem and Subsea7 have announced a preliminary agreement for a potential merger, signing a memorandum of understanding (MOU). If finalized, the deal will create a global energy services giant, possibly named Saipem7.

    The new company will have a combined backlog of €43 billion, revenue of approximately €20 billion, and an EBITDA of over €2 billion. Subsea7 shareholders will receive 6.688 Saipem shares for each share they hold, and both companies will split the capital of the merged entity equally.

    The announcement took the offshore market by surprise, as there had been no rumors of the transaction. However, mergers and acquisitions have become increasingly common since 2024, with moves like the formation of Brava, Wilson Sons’ sale to MSC, Boskalis acquiring ALP, and DOF acquiring Maersk.

    Is industry consolidation here to stay?

  • SLB strikes again

    SLB strikes again

    By Rafael Bortoloti

    SLB has secured two major contracts with Petrobras last week.

    The first, worth $800 million, covers integrated services for over 100 offshore fields operated by Petrobras. Set to begin in April 2025, the three-year contract emphasizes increasing local content.

    The second involves delivering two subsea raw seawater injection (RWI) systems for the P-74 and P-75 FPSOs in the Búzios Field, Petrobras’ largest asset. The contract will be executed by OneSubsea a joint venture between SLB, Aker Solutions, and Subsea7 and includes subsea pumps, umbilicals, and topside variable speed drives.

    “These contracts highlight SLB’s strong partnership with Petrobras. Competitive pricing and cutting-edge technology likely played a key role in securing these deals,” notes Daniel Buckley, Chartering Manager at WSB Advisors.

  • New contracts for DOF

    New contracts for DOF

    DOF Group announced charter contracts for AHTSs Skandi Jupiter and Skandi Mercury chartered to Petrobras three-years firm contracts with options, commencement 2nd half 2025. Both vessels sail under Norwegian flag and currently operate in the North Sea.

    Additionally, DOF has signed MPSV Skandi Salvador, currently employed by Petrobras in the Libra Field. According to DOF the vessel has been contracted to support ‘1st level EPCI-SURF’ operations. The specific contracting company was not disclosed by DOF but our market intel team informed that Subsea7 is the charterer.

  • Subsea7 strikes Buzios 9 EPCI

    Subsea7 strikes Buzios 9 EPCI

    Subsea7 was awarded by Petrobras for the subsea development of the Búzios 9 field, approximately 180 kilometres off the coast of Rio de Janeiro, in Santos Basin.

    The scope of work includes engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometres of rigid risers and flowlines for the production system. The fabrication of the pipelines will take place in Espirito Santo and offshore operations are expected to last for two years, starting in 2026. Subsea7 didn’t disclose the exact value, but defines as a ‘super-major contract’, being over $1.25 billion, reinforcing the growth of the company in Brazil.

    “Two years ago Subsea7 was awarded a contract similar to this one for the development of the Búzios 8 field, worth around USD 750 million”, remembers Omar Darian, Chartering Manager at WSB Advisors.

    Subsea7 confirms award

    On this monday (03), Subsea7 confirmed the award by Petrobras of four long-term day-rate contracts for PLSVs commencing in 2025. Together, these contracts have a combined value of over $1.25 billion. The contracts for Seven Rio, Seven Cruzeiro and Seven Sun comprise a firm three-year period while the award for Seven Waves comprises a firm four-year period. WSB reported in April further details regarding the commercial classification of the tender, including number of vessels expected to be awarded and daily rate levels.

    “Subsea7 is pleased to extend its successful, long-term relationship with Petrobras that has covered both day rate PLSV activities and major greenfield projects since 1998. We look forward to continuing to work together to deliver complex and challenging deepwater developments with high standards of safety and reliability”, said Yann Cottart, Subsea’s Vice-President in Brazil.