DOW JONES NEWSWIRES
Norwegian engineering and construction contractor Subsea 7 SA
(SUBC.OS) said Monday it has been awarded a $500 million, five year
contract by Petroleo Brasileiro S/A (PBR), for the provision of a
dedicated deepwater flexible pipelay vessel.
MAIN FACTS:
-Vessel will be used for operations offshore Brazil commencing
H2 2014.
-As a result of this award, Subsea 7 will construct a newbuild
flexible pipelay vessel.
-Total costs, upon delivery, are expected to be approximately
$350 million and will be funded entirely from the company's
existing cash resources.
-The new vessel will have an overall length of 146 meters, a
beam of 30 meters and a Class-2 dynamic positioning system.
-She will be equipped for transporting and installing flexible
flowlines and umbilicals in water depths of up to 3,000 meters
including: a Tiltable Lay System with a top-tension capability of
550 tonnes, two under-deck storage carousels, a large deck crane
and two work-class remotely operated vehicles.
-Delivery is planned for 2H 2014.
-Shares closed Friday at NOK113.50.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093;
dominic.chopping@dowjones.com