By Dominic Chopping

Subsea 7 Tuesday confirmed the award of a major contract from Petrobras for the development of the Mero 4 oil field, offshore Brazil.

The Norwegian offshore energy services firm said the contract was announced in redacted form last month and was recorded in its third-quarter 2023 backlog.

The contract includes engineering, procurement, fabrication, installation and pre-commissioning of 76 kilometres of pipework with project management and engineering starting immediately and offshore operations scheduled for 2025 and 2026, it said.

Subsea 7 defines a major contract as one where its share of revenue is over $750 million.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 31, 2023 10:35 ET (14:35 GMT)

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