Subsea 7 S.A. awarded US$140 million contract offshore Norway
Subsea 7 S.A. (Oslo Børs: SUBC) announced the award of a contract valued at approximately $140 million from Statoil for the removal and replacement of risers, flowlines and associated subsea structures on the Norwegian Continental Shelf.
Project management and engineering work will commence immediately from Subsea 7’s offices in Stavanger and Oslo. Offshore activities utilising a variety of Subsea 7 vessels are scheduled to extend from 2014 to 2017.
Stuart Fitzgerald – VP Norway said: “We are pleased to have been awarded this important project from Statoil for replacement and installation of flexible risers and flowlines in the North Sea. The award is a recognition of the capabilities of our fleet and experience of our people. Subsea 7 looks forward to working closely with Statoil to successfully deliver our work scope in a safe and timely manner.”