Subsea 7 awarded offshore oil contract in UK North Sea

Source:Subsea 7 S.A.

Subsea 7 has been awarded a contract valued at approximately $170 million from Statoil for the Mariner field, located in the UK sector of the North Sea.

Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a contract valued at approximately US$170 million from Statoil for the Mariner field, located in the UK sector of the North Sea.

The contract is for the engineering, procurement, installation and construction (EPIC) of 39km of rigid flowlines and flexible riser systems, together with associated subsea structures, protection systems, and tie-ins.

Project management and engineering work will commence immediately at Subsea 7’s offices in Stavanger, Norway and Aberdeen, UK. Offshore activities utilising a variety of Subsea 7 vessels are scheduled to commence in 2015 and to be completed in 2016.

Thomas Sunde, VP - Sales & Marketing (North Sea and Canada) said: “We are extremely pleased to have been awarded this significant project from Statoil for their Mariner field development in the North Sea. The award recognizes our ability to deliver the full range of technology solutions for subsea SURF projects, as well our strong track record as a reliable large scale EPIC Contractor. Subsea 7 looks forward to working closely with Statoil to successfully deliver our scope of work, with safety and quality at the forefront throughout.”

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