Contractors Unlimited

Subsea 7 Awarded Contract in the North Sea

Subsea 7 Subsea 7 S.A. announced today the award of a SURF contract valued at approximately $80 million from Statoil on Svalin C Field, situated in the central part of the North Sea, six kilometres southwest of the Grane Field.

The contract scope includes the transport and installation of a 4 slot Integrated Template Structure (ITS) at the Svalin C Field, installation of a 6km 12" production flowline and a 6km 5"x8" Pipe In Pipe gas lift flowline connecting the Svalin Field to the Grane Field.

Further the scope includes procurement, transport and installation of a 6km subsea control umbilical between the Svalin C Field and the Grane Field, installation of manifold, spools, protection covers, tie-in and pre-commissioning activities and other associated services.

Engineering and project management will commence immediately, with offshore operations due to commence in the second quarter of 2013 utilising a number of Subsea 7's pipelay and construction vessels. Rigid flowlines will be fabricated at Subsea 7's state of the art spool base facility at Vigra on the West Coast of Norway.

Stuart Fitzgerald, Subsea 7's Vice President, Norway said:

"We are very pleased to be awarded this contract by Statoil. This is an important project for Subsea 7, incorporating pipe in pipe technology and demonstrating our expertise in delivery of complex projects to the highest standards."

Published 16/02/2012

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Subsea 7 S.A. (NASDAQ-GS: SUBC; Oslo Børs: SUBC) is a seabed-to-surface engineering, construction and services contractor to the offshore energy industry worldwide. The company provide integrated services, and plan, design and deliver complex projects in harsh and challenging environments.

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