SUBCY Subsea 7 SA (PK)

   DOW JONES NEWSWIRES 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Monday it has received a contract worth $135 million from Shell U.K. Ltd (RDSA.LN) for engineering, procurement, fabrication and installation of a 4.5 kilometer pipeline bundle in the North Sea.

 
   MAIN FACTS: 

-Project management and engineering work will commence immediately. Offshore activities utilising a variety of Subsea 7 vessels are scheduled in 2014.

-The project is part of Shell's Fram oil and gas development in the Central North Sea.

-Shares in Subsea 7 closed Friday at NOK136.90.

Write to Gustav Sandstrom at gustav.sandstrom@dowjones.com

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