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Subsea7 awarded offshore contract for Sépia 2 in Brazil
Luxembourg – 9 April 2026 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a supermajor contract 1 by Petrobras, following a competitive tender, for the development of the Sépia 2 field located approximately 280 kilometres southeast of Rio de Janeiro, Brazil, at a water depth of 2,170 metres in the pre-salt Santos Basin. Sépia 2 is one of the largest pre‑salt expansion phases, playing a central role in Brazil’s energy development. The contract scope includes engineering
About this update from Petroleo Brasileiro Sa
Luxembourg – 9 April 2026 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a supermajor contract 1 by Petrobras, following a competitive tender, for the development of the Sépia 2 field located approximately 280 kilometres southeast of Rio de Janeiro, Brazil, at a water depth of 2,170 metres in the pre-salt Santos Basin. Sépia 2 is one of the largest pre‑salt expansion phases, playing a central role in Brazil’s energy development. The contract scope includes engineering, procurement, fabrication, installation, and pre-commissioning of subsea umbilicals, risers and flowlines (SURF) for 17 wells, including two wells from Sépia 1 project, and one gas export line with 18 risers. Project management and engineering will commence immediately at Subsea7’s offices in Rio de Janeiro, Paris and Sutton, with offshore operations scheduled to be executed from 2029. Yann Cottart, Senior Vice-President Brazil and Global Projects Centre West said: “This award strengthens Subsea7’s portfolio of projects in Brazil and reinforces our established relationship with Petrobras in the pre-salt. Through strong local content, disciplined execution and close collaboration, we support projects of national importance with predictable delivery. We thank Petrobras for their continued trust and look forward to the successful delivery of the Sépia 2 project.” ******************************************************************************* Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries: Katherine TonksInvestor Relations DirectorTel +44 20 8210 [email protected] Contact for media enquiries: Elisa MagalhãesMarketing & External Communications ManagerTel +55 21 [email protected] www.subsea7.com Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expect...
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