Kristian Siem's oil and gas contracting company Subsea 7 has sealed contract extensions worth $155m for its cable layers in Brazil.
The Oslo-listed outfit said state energy major Petrobras has stretched charters for three ships by a year, but at lower rates.
The 145-loa pipelay support vessels (PLSVs) are the Seven Waves (built 2014), Seven Rio (built 2015) and Seven Cruzeiro (built 2016).
