Subsea 7 S.A. awarded US$300 million North Sea contract

Friday, Jan 04, 2013

Subsea 7 S.A. (Oslo Børs: SUBC, the "Company") today announced the award of a contract valued at approximately US$300 million from Dana Petroleum, for the provision of subsea EPIC services in support of their Western Isles development project.

The contract scope includes the engineering, procurement, construction and installation of two 2.5 kilometer pipeline bundles and a 11 kilometer gas export pipeline. Engineering and project management will commence immediately from our Aberdeen office, with offshore activities scheduled to commence in 2014.

Steph McNeill, Subsea 7’s Vice President UK and Canada, said "The award of this prestigious contract from Dana is an endorsement of our unique bundle technology. We are grateful to Dana for choosing us to provide them with a cost effective solution and look forward to helping them deliver this strategically important development".

Source: Subsea 7 S.A.

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