SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Friday announced the award of a $75 million three-year subsea construction services contract by ExxonMobil Canada Properties.

 
   MAIN FACTS: 

-The contract supports the Hebron heavy oil field development, located in the Jeanne d'Arc Basin 350 kilometres southeast of St. John's, Canada.

-The contract scope includes the project management, engineering and installation of two Offshore Loading Systems in a water depth of 92 metres.

-Engineering and project management will begin immediately from Subsea 7's offices in St John's.

-At 0803 GMT shares traded 1.7% higher at NOK116.30.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

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