DOW JONES NEWSWIRES

Subsea 7 Tuesday announced it has been awarded a two and a half year frame agreement from BP for life-of-field services in the UK and Norwegian North sea, in a deal valued at about $100M.

   MAIN FACTS:

-The agreement replaces an existing contract that ran to Dec. 2011, under which approximately $27M of work had yet to be executed.

-The agreement has further extension options.

-The work is related to BP's subsea oil & gas pipeline and platform structures, primarily in the deepwater West of Shetland area.

-The offshore scope will be performed exclusively by Subsea 7's pipeline installation and construction vessel, the Subsea Viking.

-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090; djnews.stockholm@dowjones.com