Subsea 7 awarded contract offshore Australia

Tuesday, Jan 17, 2012

Subsea 7 S.A. (Oslo Børs: SUBC) announced today the award  of a SURF contract valued at approximately  $60 million from Santos Limited on the FletcherFinucane Development offshore Western Australia.

The contract scope includes the project management, engineering and installation of: approximately 55km of flexible flowlines; over 60km of umbilicals and; associated structures to connect the wells to the existing Exeter Mutineer facilities. The scope also includes pre commissioning activities and other associated services.

Project management and engineering will commence immediately with offshore operations scheduled to commence late 2012 using Rockwater 2.

Barry Mahon, Subsea 7's Senior Vice President for the Asia Pacific Region said: “We are pleased to have been awarded this contract which provides an excellent opportunity for Subsea 7 to build upon our long standing track record of working on significant subsea projects for Santos in Australia.”

Source: Subsea 7