Subsea 7 S.A awarded US$135 million contract in North Sea

Monday, Jan 21, 2013

Subsea 7 S.A. (Oslo Børs: SUBC) today announced it has been awarded a project worth approximately US$135 million by Shell U.K. Ltd as part of Shell’s Fram oil and gas development in the Central North Sea.

The project encompasses the engineering, procurement, fabrication and installation of a 4.5km pipeline bundle of approximately 44" in diameter, with integrated manifolds and tie-in structures.

Project management and engineering work will commence immediately and will be managed from Subsea 7's offices in Aberdeen, with bundle fabrication work taking place at Subsea 7’s Wester site fabrication yard in Wick. Offshore activities utilising a variety of Subsea 7 vessels are scheduled in 2014.

Steph McNeill, Subsea 7 Vice President UK and Canada, said: "We are pleased to have been awarded these significant projects from Shell for their Fram Field development in the UK. Subsea 7 has a well-established track record of safe and successful bundle design, fabrication and installation, with over 70 bundles produced since 1978."

Source: Subsea 7 S.A.

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