Petrobras pens EPCI deal with Subsea 7 worth nearly $1.5bn

Brazilian oil and gas major Petrobras has signed an engineering, production, construction, and installation (EPCI) contract with Subsea 7 for the Búzios 11 Project, worth R$8.4bn ($1.48bn) The contract establishes a minimum requirement of 40% local content, but the expectation is to reach a percentage above 50%. In total, the deal is expected to generate …