SUBCY Subsea 7 SA (PK)

Norwegian seabed-to-surface engineering and construction contractor Subsea 7 S.A. (SUBC.OS) Friday said it has received a $125 million contract with BP Exploration & Production Inc. (BP).

 
   MAIN FACTS: 

-The three-year contract includes the provision of two vessels, including a dedicated full-time vessel.

-The deal will also cover associated project management and engineering support, for inspection, intervention and light construction work in the US Gulf of Mexico.

-The project will start mid 2011.

-Shares closed Thursday at NOK135.70.

-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097; katarina.gustafsson@dowjones.com