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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 19.60 | 19.56 | 20.41 | 0.00 | 13:06:28 |
From Jul 2019 to Jul 2024
By Dominic Chopping
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Monday announced the award of two contracts with a combined value in excess of $600 million from Petrobras (PBR).
MAIN FACTS:
-The contracts are for operation of the Pipelay Support Vessels (PLSVs) Seven Mar and Seven Condor on a day rate basis for approximately three years, with operations starting toward the end of 2013 for Seven Mar and in 3Q 2014 for Seven Condor.
-Both vessels have operated for Petrobras for several years and are currently under contract with Petrobras.
-The work scope of the contract is similar to that of other PLSVs which Subsea 7 currently operates offshore Brazil, comprising project management, engineering and installation of flowlines, umbilicals and equipment supplied by Petrobras.
-Shares closed Friday at NOK128.60, valuing the company at NOK45.24 billion.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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