Subsea 7 receives contract extensions

Subsea 7 S.A. announced the award of contract extensions for three Pipelay Support Vessels (PLSVs) currently on long-term day-rate contracts offshore Brazil. These extensions have a combined value of approximately USD 250m.

The firm contract periods for the Seven Waves, Seven Rio and Seven Sun will now end respectively in Q2 2021, Q3 2021 and Q2 2022. The extensions have been awarded at the same day rates and on the same commercial terms as the original contracts.

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