SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Wednesday it has been awarded a $140 million contract from Statoil (STO) for the removal and replacement of risers, flowlines and associated subsea structures on the Norwegian Continental Shelf.

 
   MAIN FACTS: 

-Project management and engineering work will commence immediately from Subsea 7's offices in Stavanger and Oslo.

-Offshore activities utilising a variety of Subsea 7 vessels are scheduled to extend from 2014 to 2017.

-Shares closed Tuesday at NOK124.30, valuing the company at NOK43.73 billion.

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

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