Subsea 7 Receives $70 Mln Subsea Compression Marine Operations Contract from Statoil

Subsea 7 S.A., a seabed-to-surface engineering, construction and services contractor to the offshore energy industry, has received the contract for the Gullfaks C subsea compression marine operations from Statoil ASA.

The contract is for the engineering, installation and commissioning of a 15.5km integrated power service umbilical, a protection structure, a subsea compressor station, pipeline spools and tie-ins. The contract is valued at approximately $70 million. Engineering and project management will commence immediately at Subsea 7's Stavanger office, with offshore operations due to commence in 2015.

Stuart Fitzgerald, vice president, Norway said: "We are pleased to be awarded this contract by Statoil, and to participate in the delivery of this important subsea processing technology. The award is enabled by our strong engineering and project execution skills, our state of the art vessels, and our continuous focus on executing our work to the highest safety and quality standards. We look forward to supporting Statoil in meeting their project and increased oil recovery objectives on the Gullfaks field."