US$ 2.7b Petrobras contract
Seadrill Limited and SapuraKencana Petroleum Berhad announced that their jointly owned entity, Sapura Navegação Marítima S. A., Brazil has been awarded a contract from Petróleo Brasileiro S. A. to charter and operate three pipe laying support vessels. The contract is for an initial period of eight years and is expected to commence by the second quarter of 2016. Total revenue potential for the contract is expected to be US$ 2.7billion. The three vessels will be constructed in Holland with IHC Caland to the s ame specification s as SNM's existing orders with the yard. The total new build cost is expected to be approximately US$ 800m.