Subsea 7 (OSE Symbol: SUB), one of the world’s leading subsea engineering and construction companies, announced today that it has been awarded its largest contract to date in Africa. The contract is a framework agreement with call-off services in support of a major development programme in offshore west Africa. Subsea 7 has signed the first call-off contract under the frame agreement with an estimated value of $460m.
The services will primarily be performed using Subsea 7’s new build flexible pipelay and construction vessel, the Seven Seas.
Further information regarding the contract award will be released at the earliest opportunity.
Ends July 3rd 2008
For further information contact:
Barry Mahon, Chief Financial Officer, Subsea 7 Tel: +44 1224 344513
Subsea 7 Corporate Communications:
Jackie Doyle, Tel: +44 1224 344425 or e-mail: jackie.doyle@subsea7.com
Notes to editors: 1. Subsea 7 is one of the world’s leading subsea engineering and construction companies offering all the expertise and assets that make Subsea Umbilical, Riser and Flowline (SURF) field development possible.
2. With a multi-national workforce of over 5,000 people worldwide, the company’s global offshore operations are supported out of the North Sea, Africa, Brazil, North and Central America and Asia Pacific. Subsea 7 has a fleet of industry leading, dynamically-positioned ships capable of reeled and flexible pipelay, subsea construction and saturation diving and a portfolio of pipeline construction yards worldwide. (www.subsea7.com)