By Dominic Chopping
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A.
(SUBC.OS) said Thursday that as part of a consortium with Technip
(TEC.FR), it has been awarded a contract from Tullow Ghana Limited
for a project offshore Ghana. Subsea 7's share of the contract is
valued at $500 million.
MAIN FACTS:
-There is a significant fabrication scope of work which will be
executed in Ghana.
-Onshore operations will be led by a team who will be located in
Ghana.
-Engineering will commence immediately with offshore
installation scheduled to commence in mid-2015, using the Seven
Borealis.
-The TEN Field is located in the Deepwater Tano Contract Area,
60km off the coast of Ghana and approximately 30km west of the
Tullow Operated Jubilee Field.
-Shares closed Wednesday at NOK128.20, valuing the company at
NOK45.1 billion.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires