SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Thursday that as part of a consortium it has been awarded a contract from Esso Exploration and Production Nigeria Ltd for the development of the Erha North field, offshore Nigeria.

 
   MAIN FACTS: 

-The contract was awarded to a consortium of West African Ventures Ltd and Subsea 7's Nigerian subsidiary.

-Significant parts of the design will be executed in Nigeria and all subsea structures will be fabricated in Nigeria.

-Engineering will commence immediately with offshore installation scheduled to commence in early 2015, using the Seven Borealis and the Seven Pacific.

-At 1023 GMT shares traded 3.3% higher at NOK134.70.

-Write to Dominic Chopping at dominic.chopping@dowjones.com; Twitter: @DowJonesNordics

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