SUBC Subsea 7 SA - Ads Representing One Common Share (MM)

25.94

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31 May 2024 - Closed

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Share Name	Share Symbol	Market	Type
Subsea 7 SA - Ads Representing One Common Share (MM)	NASDAQ:SUBC	NASDAQ	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	25.94						0	01:00:00

Subsea 7 Gets $1 Billion Petrobras Contract Offshore Brazil

07/04/2011 8:25am

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Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Thursday said it has inked a $1 billion deal with Petroleo Brasileiro SA (PBR), known as Petrobras, for deepwater development offshore Brazil.

The project includes engineering, procurement, installation and pre-commissioning of four decoupled riser systems.

Development is for the Pre-Salt deepwater Guara and Lula North East Areas located in the Santos Basin, offshore Brazil, in water depths of approximately 2,200 meters.

Project management work is to start immediately and offshore installation is scheduled to commence during the second half of 2012, the firm said.

Subsea 7 shares closed at NOK143.30 Wednesday.

-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097; katarina.gustafsson@dowjones.com