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Subsea 7 Awarded $360m Shell USC Contracts Extension

27 November 2012

Subsea 7, a global leader in seabed-to-surface engineering, construction and services to the offshore energy industry, has been awarded a two year extension on both of itsUnderwater Services Contracts (USC), by Shell Upstream International Europe, worth approximately US$360 million.

Under these contracts Subsea 7 will continue to provide subsea construction, inspection, repair, maintenance and decommissioning services across Shell’s European offshore fields and facilities.

Steph McNeill, Subsea 7 Vice President UK and Canada, said: "We are privileged and grateful to have received an award from Shell of this value and importance. We believe it is an endorsement of Subsea 7's ability to provide life-of-field support safely, effectively and to the highest standard. Subsea 7 is committed to the continued successful partnership, held with Shell since 1990, across their North Sea Operations.”

Glen Cayley, Shell Vice President Technical Europe, said: "Subsea 7’s long track record of subsea experience and innovation across the North Sea is invaluable. We are very pleased with the quality of support we have received over the last four years and look forward to the continued execution of a first-class service.”

Subsea 7’s technologically advanced vessels, the Seven Atlantic and the Normand Subsea will be dedicated to operate for Shell and, managed by an onshore engineering and support team in excess of 50 people, they will provide 24 hour, 365 days a year, diving and ROV support services in the harshest of North Sea environments.

TheSeven Atlantic was originally custom built specifically to meet Shell’s advanced technical specification and commenced operations in 2010. She is one of the world’s largest and most capable vessels of her kind, primarily designed for saturation and air diving support works.

TheNormand Subsea was also custom built to Shell’s specification and commenced operations in 2009. She is a state-of-the-art remotely operated vehicle support vessel (ROVSV), designed for subsea inspection, maintenance and repair with six ROVs and a module handling system all of which have been proven to operate simultaneously when required.

Both vessels are designed for year round subsea operations in exposed conditions and have regularly demonstrated their capability to safely continue operations uninterrupted through the harshest environmental conditions.

The contract extension will commence in 2014 and continue until at least 2016 with the possibility of up to a further two year extension.