Subsea 7 Gets $160 Million Contract in Gulf of Mexico

Date : 05/01/2014 @ 2:50AM
Source : Dow Jones News
Stock : BP P.L.C. (BP)
Quote : 34.84  -0.06 (-0.17%) @ 4:01PM

Subsea 7 Gets $160 Million Contract in Gulf of Mexico

BP (NYSE:BP)
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   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Thursday announced the award of a three-year $160 million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the US Gulf of Mexico.

 
   MAIN FACTS: 

-The contract will run from the second quarter 2014 to the third quarter 2017.

-Shares closed Wednesday at NOK118.90, valuing the company at NOK41.83 billion.

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

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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