By Dominic Chopping

Subsea 7 S.A. said Monday it has been awarded a very large contract by Petroleo Brasileiro SA for engineering, fabrication, installation and pre-commissioning work on the Mero-3 field, located 200 kilometers (124 miles) off the coast of Rio de Janeiro, Brazil.

Project management and engineering will start immediately at Subsea 7's offices in Rio de Janeiro and Paris, with offshore operations scheduled to be executed in 2023 and 2024.

Subsea 7, a provider of services to the offshore energy industry, defines a very large contract as being between $500 million and $750 million.

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

(END) Dow Jones Newswires

May 24, 2021 02:42 ET (06:42 GMT)

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