Subsea 7 Alliance Expects Major Contract From Equinor For Offshore Brazil Project
June 01 2021 - 8:46AM
Dow Jones News
By Dominic Chopping
Subsea 7 SA said Tuesday that the Subsea Integration Alliance,
an alliance between Subsea 7 and Schlumberger Ltd.'s OneSubsea
unit, expects to receive final confirmation of a major contract
award from Equinor ASA.
The company said if confirmed, it expects the work scope will
cover engineering, procurement, construction and installation of
subsea pipelines and production systems for the Bacalhau field,
located 185 kilometers off the coast of Sao Paulo, Brazil.
It is expected that the contract will be recorded in backlog in
the second quarter of 2021, with offshore work taking place between
2022 and 2023.
Subsea 7, a provider of services to the offshore energy
industry, defines a major contract as being one where its share of
revenue is over $750 million.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 01, 2021 08:46 ET (12:46 GMT)
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