Subsea7 secures EPC contract from Petrobras for Sépia 2 offshore field development in Brazil

Subsea7 has secured a contract valued at over $1.25 billion from Petrobras to develop the Sépia 2 offshore field in Brazil's Santos Basin. Petrobras, a Brazilian state-owned oil and gas major, has a significant presence across the globe and is involved in the exploration, production, refining, and distribution of petroleum, natural gas, and derivatives. Subsea7, a global leader in subsea engineering, construction, and services for the offshore energy industry, generates approximately $5.5 billion in annual revenue and operates a large fleet. The contract includes engineering, procurement, fabrication, installation, and pre-commissioning of subsea umbilicals, risers, and flowlines for 17 wells, with offshore operations scheduled to commence in 2029. The project management and engineering activities began immediately at Subsea7's offices in Rio de Janeiro, Paris, and Sutton.