SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Friday it has been awarded a $110 million contract from Shell (RDSA.LN) for engineering work on the BC-10 Phase 3 Project in the Campos Basin offshore Brazil.

 
   MAIN FACTS: 

-Project management and engineering will be performed from Subsea 7's offices in Rio de Janeiro and will commence in 1Q 2014 with the offshore campaign starting in 3Q 2015, using the construction/flexlay vessel the Skandi Neptune.

-The project has a total duration of approximately two years.

-At 0834 GMT shares traded 0.8% higher at NOK106.50.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

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