Subsea 7 Gets Contract for North Sea Work
February 03 2016 - 3:19AM
Dow Jones News
By Dominic Chopping
Norwegian offshore engineer Subsea 7 SA (SUBC.OS) said Wednesday
it has been awarded a sizeable three-year frame agreement, with
four one-year options, for six North Sea clients.
The company defines a sizeable contract as being between $50
million and $150 million.
Under the deal, Subsea 7 will continue to provide Diving Support
Vessel (DSV) services on a year-round basis, as well as associated
project management and engineering services to over 40 facilities
in the North Sea.
The clients involved are Chevron North Sea, Dana Petroleum
(E&P), Hess Denmark APS, Nexen Petroleum U.K., Talisman Sinopec
Energy UK and TAQA Bratani.
The agreement follows on from an original frame deal awarded in
2009, and allows all operators to benefit from lower costs realised
through the sharing of resources, it said.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
February 03, 2016 03:04 ET (08:04 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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