More work for Subsea 7 offshore Brazil Projects and Operations
// November 12, 2004
Broker Marcon reports that Subsea 7/Siem Offshore's two pipelay vessels K3000 and Lochnagar are continuing work in Brazil.
K3000 is expected to continue on the KBR Barracuda/Caratinga project at least through the end of the year.
Lochnagar commenced a one year charter in July 2004, after which the vessel will undergo conversion work to make the vessel compliant with the recently awarded Hybrid vessel contract.
Siem's supply/crew vessels in Brazil continued on contracts to Petrobras and achieved a utilization rate of 97 per cent in the third quarter 2004.
In September, one of the vessels commenced a two month upgrade in preparation for a new four years contract for Petrobras as a standby vessel.
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