Thursday, February 10, 2011

Subsea 7 awarded contract in the North Sea

Subsea 7 S.A. (NASDAQ-GS: SUBC; Oslo Børs: SUBC) announced today the award of a SURF contract valued at approximately $75 million from 

ConocoPhillips Skandinavia AS, acting as Technical Service Provider on behalf of the operator Gassco, in the German Sector of the North Sea.

This contract is for the engineering, procurement and installation of a subsea pipeline bypass around the B11 Platform. The 350m long bypass arrangement consists of five spools. The final two connections will be tied into the pipeline using hyperbaric welding which will enable the bypass of the B11 Platform and tie-ins into the existing 36" Norpipe Gas Export pipeline.

Engineering will commence in the second half of 2011, with offshore operations primarily in 2013.

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