Subsea 7 S.A. awarded contract offshore Brazil
Subsea 7 S.A. (Oslo Børs: SUBC) announced the award of a lump sum contract valued at approximately $110 million by Shell for the installation of jumpers, umbilicals and associated subsea structures for the BC-10 Phase 3 Project in the Campos Basin offshore Brazil.
Project management and engineering will be performed from Subsea 7’s offices in Rio de Janeiro and will commence in Q1 2014 with the offshore campaign starting in Q3 2015, using the construction/flexlay vessel the Skandi Neptune. The project has a total duration of approximately two years.
Victor Bomfim, Senior Vice-President of Subsea 7’s Brazil Territory, said: “We are pleased to have been awarded this important contract and be able to work once again with Shell Brazil, following our contracts for the Bijupirá-Salema and BC-10 Phase 1 developments. Subsea 7 looks forward to working closely with Shell to successfully deliver the work scope in a safe and timely manner.”