Subsea 7 Awarded Major Subsea Contract

Source: www.gulfoilandgas.com 9/29/2021, Location: Europe

Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a major1 contract that will be recorded in the backlog of the Subsea and Conventional business unit in the third quarter.

The award extends the engineering, project management and procurement scope of the contract announced on 12 March 2021. The scope of work includes the provision and installation of infield flowlines, control umbilicals, tie-in connections, associated subsea equipment, a gas export pipeline and a monoethylene glycol injection pipeline.

Project management and engineering has already commenced and will be managed from the local Subsea 7 office.

No further details are disclosed at this time due to contractual obligations.

(1) Subsea 7 defines a major contract as being over $750 million.


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