Subsea 7 Announces Contract With Petrobas

January 8, 2008

Subsea 7 Inc announced today that it has been awarded a contract by Petrobras America, a subsidiary of Petrobras for installation works in the deepwater Cascade & Chinook fields in the Gulf of Mexico. The contract is valued at $50 million. Subsea 7 will engineer and install 229658 ft. of power cables and control umbilicals and fabricate and install 16 jumpers in the Cascade & Chinook fields, located at Block 425 of Walter Ridge area in water depths ranging from 7545 ft.-9842 ft. Work will commence immediately with the Project Management and Engineering team located in Subsea 7’s offices in Houston. Fabrication of the jumpers will be carried out at Subsea 7’s logistic base in Mobile, Alabama. The offshore installation campaign will be carried out by one of Subsea 7’s deepwater umbilical installation vessels late 2009 and early 2010. The final selection of vessel will be dependant on the size and weight of product to be installed following optimisation by Petrobras and Subsea 7.

Subsea 7 Announces Contract With Petrobas

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