Luxembourg -2 March 2015 - Subsea 7 S.A. (Oslo
Børs: SUBC: the Company) today announced it has
been awarded a two-year extension to two Underwater
Services Contracts (USCs) by Shell Upstream
International Europe, worth approximately US$240
million.
Under these Life of Field contract extensions for
Diving Support Vessel (DSV) and Remotely Operated
Vehicle Support Vessel (ROVSV) services, both of
which will commence in 2016, Subsea 7 will continue
to provide subsea construction, inspection, repair,
maintenance and decommissioning services to Shell's
UK offshore fields and facilities.
The DSV contract will be delivered on a 24 hour,
year-round basis through to the third quarter 2018.
The ROVSV contract will cover a minimum of 100
vessel days per year and continue through to the
second quarter of 2018. Subsea 7's North Sea fleet,
including the Seven Atlantic for the DSV workscope,
will undertake the work under the USCs.
Associated project management and engineering
support for the USCs will be executed from Shell's
and Subsea 7's offices in Aberdeen.
Phil Simons, Subsea 7 Vice President UK and Canada,
said: "We are proud to have received these contract
extensions. An award of this importance recognises
our strong track record in providing Life of Field
expertise and high quality vessels and safe and
efficient operations to Shell since our support of
their subsea operations began in 1984."
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Subsea 7 S.A. is a leading global contractor in
seabed-to-surface engineering, construction and
services to the offshore energy industry. We
provide technical solutions to enable the delivery
of complex projects in all water depths and
challenging environments.
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Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 (0)20 8210 5568
isabel.green@subsea7.com
Contact for media enquiries:
Carol Reed
Group Communications Director
Tel. +44 (0)20 8210 5570
carol.reed@subsea7.com
www.subsea7.com
A PDF of the full release is available to download
on www.subsea7.com
SUBCAwardShellUK_25022015_Final.pdf
