Subsea 7 Gets $100 Million Pact From Suncor Energy Offshore Canada

29 March 2012

Norwegian seabed-to-surface engineering contractor Subsea 7 SA (SUBC.OS) said Tuesday it has been awarded a $100 million Subsea Umbilicals, Risers and Flowlines (SURF) contract from Suncor Energy Inc. (SU).

MAIN FACTS:

-Contract applies to the Terra Nova Field, situated 350km south east of St John's, Newfoundland, offshore Canada.

-The contract scope includes the management, engineering and installation of nine 300 metre replacement risers and associated flowlines, jumpers and tie-ins.

-Engineering and project management will commence immediately at Subsea 7's St John's office, with offshore operations due to commence in summer 2012.