By Dominic Chopping
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A.
(SUBC.OS) Wednesday announced the award of a $60 million Varg Gas
Export Contract from Talisman Energy Norge AS for the development
of a gas export pipeline at the Varg field, located 200km off the
Norwegian coastline.
MAIN FACTS:
-The contract is for the engineering, procurement, installation
and construction of a 6km flowline and flexible riser system as
well as the installation of associated subsea structures,
protection systems, and tie-ins.
-Engineering and project management will commence immediately at
Subsea 7's Stavanger office with offshore operations due to
commence summer 2013.
-Shares closed Tuesday at NOK133.90, valuing the company at
NOK47.11 billion.
-Write to Dominic Chopping at dominic.chopping@dowjones.com
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