By Dominic Chopping
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A.
(SUBC.OS) said Thursday it has received an $800 million contract
from Total E&P Norge AS for the development of the Martin Linge
gas field, off the coast of Bergen, Norway, in the North Sea.
MAIN FACTS:
-The contract comprises engineering, procurement, construction
and installation (EPIC) of the complete subsea facilities on the
field including.
-Under the terms of this contract Subsea 7 will deploy various
pipelay, construction, diving, ploughing, trenching and survey
vessels during the offshore period.
-Engineering and project management will commence immediately at
Subsea 7's Stavanger office with offshore operations due to
commence in the spring of 2014.
-The duration of the contract is estimated at four years.
-Shares closed Wednesday at NOK121.30, valuing the company at
NOK42.67 billion.
-Write to Dominic Chopping at dominic.chopping@dowjones.com
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