Oslo-listed Subsea 7 to supply USD 75m pipeline bundle

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    Apr 26, 2010 (NORDIC BUSINESS REPORT via COMTEX) —

    26 April 2010 – Oslo-listed oil service provider Subsea 7 Inc (OSL: SUB) said today that it has won a contract, worth more than USD75m, for the engineering, production, installation and commission of a pipeline bundle in the UK sector of the North Sea.

    The customer was not disclosed.

    The system will comprise production, gas lift, methanol and heating pipelines, as well as controls umbilical.

    In a pipeline bundle, at each end of the pipeline, the structures, manifolds, incorporating equipment and valves, are attached. Once installed no trenching or rock dumping is required.

    Procurement, engineering and project management
    will start immediately with offshore installation of the bundle scheduled for early 2011.

    (EUR1 = USD1.3)

    http://www.tradingmarkets.com/news/stock-alert/sbeaf_oslo-listed-subsea-7-to-supply-usd75m-pipeline-bundle-936273.html

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