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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 $300 Million Contract Extension With BP In North Sea

12/10/2012 7:44am

Dow Jones News


Subsea 7 (PK) (USOTC:SUBCY)
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   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Friday that BP PLC (BP) has extended its contract for subsea construction, inspection, repair and maintenance services for the Foinaven and Schiehallion fields west of the Shetland Islands, in a deal worth $300 million.

 
   MAIN FACTS: 

-The contract extension will run from 2013 until 2017.

-Under the terms of this contract, the multi-purpose support vessel, Subsea Viking, will provide BP's operations with support services in the Foinaven and Schiehallion fields.

-Shares closed at NOK133.70, valuing the company at NOK47.03 billion.

-Write to Dominic Chopping at dominic.chopping@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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