Subsea 7 Wins ROV Supply Contract

27 May 2010 (Last Updated May 27th, 2010 18:30)

Subsea 7 has secured a contract worth up to $250m from Petrobras to supply remotely operated vehicle (ROV) and tooling services for 30 offshore drilling units. The company said its i-Tech division will supply the latest variant of its Centurion QX work-class ROV. The ROV syste

Subsea 7 has secured a contract worth up to $250m from Petrobras to supply remotely operated vehicle (ROV) and tooling services for 30 offshore drilling units.

The company said its i-Tech division will supply the latest variant of its Centurion QX work-class ROV.

The ROV systems will be installed on board rigs on hire to Petrobras in Brazil and on multiple new builds.

Work will be carried out by engineering and installation support teams based in Brazil, the UK and the Asia-Pacific region, the company said.

The contract period for each ROV ranges from 5-10 years, with an option to extend the contract at the end of initial term.

The contract value has the potential to go up to $405m.