RTTNews | Oct 11, 2021 05:25PM EDT

17:24 Monday, October 11, 2021 (RTTNews.com) - TechnipFMC (FTI) Monday said it has been awarded a substantial long-term charter and services contract by Petrobras (PBR) for the pipelay support vessel Coral do Atlntico.

According to TechnipFMC, a "substantial" contract is between $250 million and $500 million.

The Brazilian-registered vessel has been secured on a three-year contract, with an option to extend. Operations offshore Brazil are expected to begin in the second quarter of 2022.

Jonathan Landes, President, Subsea at TechnipFMC, commented, "Coral do Atlntico is the third of our pipelay support vessels to be contracted via a long-term charter by Petrobras this year, indicating rising demand in the Brazilian market for flexibles. Coral do Atlntico's versatility and ability to work in deep or shallow water is a large part of the vessel's appeal. This latest contract further strengthens our collaborative, trusting relationship with Petrobras that spans decades."

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