SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Friday that BP PLC (BP) has extended its contract for subsea construction, inspection, repair and maintenance services for the Foinaven and Schiehallion fields west of the Shetland Islands, in a deal worth $300 million.

 
   MAIN FACTS: 

-The contract extension will run from 2013 until 2017.

-Under the terms of this contract, the multi-purpose support vessel, Subsea Viking, will provide BP's operations with support services in the Foinaven and Schiehallion fields.

-Shares closed at NOK133.70, valuing the company at NOK47.03 billion.

-Write to Dominic Chopping at dominic.chopping@dowjones.com

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