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Subsea 7 - News - May 13, 2004

Petrobras Contracts Extended for Subsea 7 IRT

Subsea 7’s IRT (Integrated Remote Technologies) division today announced two contract extensions from Petrobras for the continued provision of Remotely Operated Vehicle (ROV) services onboard Petrobras chartered drill rigs Amethyst and Atlantic Star. The contract for the Amethyst has been extended to the first quarter of 2007 whilst the Atlantic Star contract will run until the end of this year. Contracts are valued at approximately $2 million and $900,000 respectively.

Located in the Campos Basin, Brazil, the drilling rig Amethyst has a Diablo 3 ROV onboard. This ROV has now accumulated more than seven years of continuous work. The vehicle’s initial mobilisation was onboard the drill rig Peregrine 1 in December 1997 and transferred to the Amethyst three years ago. Since mobilisation onboard the Amethyst, the vehicle has had 99.9% operational uptime in water depths down to 1200 metres.

The Diablo 2 ROV onboard the Atlantic Star was initially mobilised in June 2004 to support the drilling activities on two well programmes but the contract has now been extended until the end of 2005. Diablo 2 began its activities in 1997 as a support ROV for the maintenance and repair of fibre optic cables, before spending five years on the drill rig Louisiana and four months on the drill rig Ocean Yorktown in the Campos Basin in Brazil. Since being mobilised onboard the Atlantic Star, the vehicle has had an operational uptime of 99.6% in water depths to 400 metres.

Bill Boyle, Subsea 7 IRT’s recently appointed Vice President, commented “These contract extensions are great news for our operations in Brazil. Our excellent operational performance was a significant factor in Petrobras’ decision to extend both contracts. We have many highly skilled professionals in the company, which is the differentiating factor in our remote technology engineering and operational excellence worldwide”.

Ends
###

Subsea 7 Public Relations:
Lyndsay Cruickshank Tel: +44 1224 344606
E-mail: lyndsay.cruickshank@subsea7.com

Pat Stephen Tel: +44 1224 344508 or +44 7712 427608
E-mail: pat.stephen@subsea7.com

Notes to editors:
1. With a workforce in excess of 3000 people worldwide, Subsea 7 is one of the world’s leading subsea engineering contractors. The company’s global offshore operations are supported out of Asia Pacific, Brazil, Gulf of Mexico, Norway, UK and West Africa. Subsea 7 has more than 100 remotely operated vehicles (ROVs), four pipeline construction yards and a fleet of modern, high specification dynamically positioned ships capable of deepwater reeled and flexible pipelay, deepwater subsea construction and saturation diving. Website: www.subsea7.com

2. Petróleo Brasileiro S/A is: An integrated company operating in exploration, production, refining, trading, and transportation of petroleum and its byproducts, at home and abroad. Energy company with huge social responsibility, and deeply concerned with environmental preservation whose past achievements have been awarded by numerous records and international recognition. Petrobras is headquartered in the city of Rio de Janeiro, and has offices and administration managers in major Brazilian cities, such as Salvador, Brasilia and São Paulo. Website: http://www2.petrobras.com.br/portal/ingles/petrobras.htm



 


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