Subsea 7 S.A. awarded contract offshore Brazil

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Subsea 7 S.A. awarded contract offshore Brazil

Subsea 7 S.A. (Oslo Børs: SUBC) has been awarded a contract worth approximately USD$200 million with a duration of approximately two years.

The contract is for the installation of flexible lines for Petrobras’ projects using Subsea 7’s construction and flex-lay vessel Seven Seas, on a day-rate basis.

The vessel has been operating for Petrobras under a similar day-rate contract since 2013 and will commence the new contract in direct continuation to the current one. The Seven Seas is a vessel capable of operating in water depths up to 3,000 metres and is equipped with an advanced flexible pipe-lay system with top tension capacity of 430 tonnes.

The contract work scope will be similar to that of other Subsea 7 Pipelay Support Vessels (PLSVs) operating under day-rate contracts in Brazil, providing engineering and installation services for client-supplied flowlines, umbilicals and subsea equipment.

Subsea 7’s Senior Vice President for Brazil, Victor Bomfim, said: “This new contract for Seven Seas maintains our solid presence in the market for PLSVs in Brazil. We are proud to provide continuous service to Petrobras as it develops its complex oil and gas fields offshore Brazil.”

For more information, please visit: http://www.subsea7.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.