Subsea 7 Inc (OSE Symbol: SUB), through its i-Tech division, today announced a number of new business awards globally with an estimated total value of USD $15 million. i-Tech has been awarded two contracts with terms of three and five years by Petroleo Brasileiro S.A. (Petrobras) for the provision of ROV services onboard two semi-submersible drilling rigs relocating from the US Gulf Of Mexico to work offshore Brazil.
Larsen Oil and Gas has selected i-Tech to provide ROV services for a 2.5 year term onboard a semi submersible offshore Mexico.
In addition to the awards from Petrobras and Larsen Oil and Gas, i-Tech has also been successful in securing a one year contract for the supply of ROV and tooling services onboard a recently upgraded drill ship for work offshore West Africa and the Mediterranean Sea.
"i-Tech's Managing Director, Neil Milne, commented, "These awards further consolidate our position as a global provider of ROV and intervention technologies to the offshore drilling industry. We are particularly pleased that all of these awards are onboard offshore installations new to i-Tech."
i-Tech employs 600 people globally and has operations in Europe and Africa, Asia Pacific, the Americas and Brazil.