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SUBCY Subsea 7 SA (PK)

18.96
-0.64 (-3.27%)
Last Updated: 19:16:43
Delayed by 15 minutes
Name Symbol Market Type
Subsea 7 SA (PK) USOTC:SUBCY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.64 -3.27% 18.96 18.98 19.03 19.32 18.94 19.32 3,093 19:16:43

Subsea 7 Gets $200 Million Pact Offshore Brazil From Petrobras

07/12/2011 7:48am

Dow Jones News


Subsea 7 (PK) (USOTC:SUBCY)
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   DOW JONES NEWSWIRES 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Wednesday it has been awarded a $200 million Subsea, Umbilicals, Risers and Flowlines (SURF) contract from Petroleo Brasileiro S/A (PBR) on Campos Basin, 80km from the Brazilian coast.

 
   MAIN FACTS: 

-The contract scope includes the management, engineering, procurement and installation of two rigid oil lines at water depths of 70 metres, umbilicals and subsea related equipments.

-The subsea layout is comprised by an offshore terminal for oil temporary storage and offloading (Transfer and Export Offshore Unit) and two mono-buoys connected to the subsea system (pipeline and equipment) through flexible hoses and umbilicals.

-Engineering and project management will commence immediately with offshore operations due to commence in 1H 2013 utilising a number of Subsea 7's pipelay and construction vessels.

-Shares closed Tuesday at NOK112.90.

-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

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