Subsea 7 Expects Guará Lula Completion by Year-end
Oil services firm Subsea 7 has overcome problems at Petrobras' Guará-Lula offshore project in Brazil and expects to complete work by the end of the year, Chief Executive Jean Cahuzac said on Thursday.
The firm has suffered extensive delays at the $1 billion project and has written off several hundred million dollars in expected full-life project losses related to Guará-Lula.
(Reporting by Gwladys Fouche; Editing by Balazs Koranyi)
