Subsea 7 Gets $300 Million Contract Extension With BP In North Sea
October 12 2012 - 2:44AM
Dow Jones News
By Dominic Chopping
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A.
(SUBC.OS) said Friday that BP PLC (BP) has extended its contract
for subsea construction, inspection, repair and maintenance
services for the Foinaven and Schiehallion fields west of the
Shetland Islands, in a deal worth $300 million.
MAIN FACTS:
-The contract extension will run from 2013 until 2017.
-Under the terms of this contract, the multi-purpose support
vessel, Subsea Viking, will provide BP's operations with support
services in the Foinaven and Schiehallion fields.
-Shares closed at NOK133.70, valuing the company at NOK47.03
billion.
-Write to Dominic Chopping at dominic.chopping@dowjones.com
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