A 50/50 joint venture between Technip and DOF Subsea has clinched major contracts from Petrobras to build four pipelay support vessels and install flexible pipes offshore Brazil under eight awarded contracts.
The contracts are worth US $1.71 billion for DOF Subsea, according to the Norwegian company, while Technip said its share was worth about $1.8 billion. The French contractor said it would manage flexible pipelay under the JV agreement, and that DOF would be responsible for marine operations.
The four ships are due to be delivered in 2016-2017, with Technip adding that the contracts would last eight years from the start of operations and could be renewed for another eight- year period.
Vard Holdings will be in charge of the design and construction of the vessels. Two of the PLSVs will have a 300- ton laying tension capacity and will be built in Brazil. The other two will be designed to achieve a 650-ton laying tension capacity.
Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, Baker Hughes, a GE company (NYSE: BHGE), said in its weekly report.
The independent U.S. energy producer aims to take a final investment decision on the $20 billion project in the coming months, having signed up long-term buyers for its LNG.
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