Subsea 7 S.A. announced, after a competitive tender process, the award by Petrobras of four long-term day-rate contracts for pipelay support vessels (PLSVs) commencing in 2025. The contracts have a combined value of over $1.25 billion and will be recorded in the backlog in the second quarter. The contracts for Seven Rio, Seven Cruzeiro and Seven Sun comprise a firm three-year period while the award for Seven Waves comprises a firm four-year period.