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SUBCY Subsea 7 SA (PK)

19.02
-0.58 (-2.96%)
Last Updated: 15:14:40
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
  -0.58 -2.96% 19.02 18.99 19.03 19.32 19.02 19.32 1,834 15:14:40

Subsea 7 Gets $380 Million Pact Offshore Norway From Statoil

05/03/2013 7:47am

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 Tuesday it has been awarded a contract valued at $380 million from Statoil ASA (STO) for the Aasta Hansteen gas field, located west of Bodoe in the northern part of the Norwegian Sea.

 
   MAIN FACTS: 

-Project management and engineering will commence immediately at Subsea 7's offices in Stavanger, Norway, with offshore operations commencing in 2015 and 2016.

-The project will provide the basis for a permanent Subsea 7 presence in Northern Norway, which will be established in the first year of the project.

-Shares closed Monday at NOK136.70, valuing the company at NOK48.09 billion.

-Write to Dominic Chopping at dominic.chopping@dowjones.com; Twitter: @DowJonesNordics

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


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