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| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.254 | 1.40% | 18.404 | 18.15 | 18.72 | 18.47 | 18.31 | 18.47 | 21,757 | 21:00:49 |
From Jun 2019 to Jun 2024
By Dominic Chopping
Norwegian offshore engineer Subsea 7 S.A. (SUBC.OS) Thursday announced a $500 million contract from BP PLC (BP) and partner DEA, for the development of the Taurus and Libra subsea fields offshore Alexandria, Egypt.
The contract is the first phase of Egypt's West Nile Delta project and includes the engineering, procurement, installation and pre-commissioning of subsea infrastructure required to develop the hydrocarbon resources from nine wells.
Engineering and project management work will commence immediately and will be undertaken at Subsea 7's Global Projects Centre in London while fabrication will be carried out at the Petrojet Maadia yard near Alexandria.
Offshore installation is scheduled to commence in the second half of 2016 using the Subsea 7 pipelay vessel, Seven Borealis, and heavy construction vessel, Seven Arctic.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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