Subsea 7 S.A. (Oslo Børs: SUBC) announced today the award of a contract with a value of approximately USD 300 million for the Maria field development by Wintershall Norge AS. The field is located in the Norwegian Sea at a water depth of approximately 300 meters.
The ipelipne and subsea construction contract consists of engineering, procurement, construction and installation (EPCI) of 95 kilometers of rigid flowlines and associated structures to develop the Maria field.
Project management and engineering work will commence immediately at Subsea 7's offices in Stavanger, Norway. Offshore activities will utilize a variety of Subsea 7 vessels, including the new-build vessel, Seven Arctic, with its high-end capability and capacity. Offshore operations are scheduled to commence in 2016 and are expected to be completed in 2017. The pipeline production for clad, mechanically lined pipe (BuBi®), plastic lined and carbon steel pipelines will take place at Subsea 7's spoolbase at Vigra, Norway.
Monica Bjørkmann, Vice President Norway said: "This significant project awarded by Wintershall for their Maria field development, recognises our ability to deliver the full range of technological solutions for subsea projects and our strong track record as a reliable large scale EPCI contractor.
Subsea 7 looks forward to working closely with Wintershall to successfully deliver our workscope, with safety and quality at the forefront throughout."