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Contract Awards: i-Tech announces further contract Aawards offshore Brazil

Posted on 25.07.2007 - 14:30 EDT in CONTRACT AWARDS by Rons_ROV_Links

i-Tech announces further contract Aawards offshore BrazilSubsea 7 Inc (OSE Symbol: SUB), through its i-Tech division, today announced the award of three new contracts valued in excess of $ 18 million for Petroleo Brasileiro S/A - Petrobras.

The three contracts are for Petrobras, offshore Brazil, to provide ROVs onboard three drilling units with an approximate combined term of 10.5 years with options to further extend to a maximum of 3.8 years collectively.

i-Tech's Managing Director, Neil Milne, commented, "These awards further enhance our excellent working relationship with Petrobras and further consolidates our position as the leading provider of ROV services to the E&P sector offshore Brazil".

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