SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Tuesday it has been awarded a contract valued at $380 million from Statoil ASA (STO) for the Aasta Hansteen gas field, located west of Bodoe in the northern part of the Norwegian Sea.

 
   MAIN FACTS: 

-Project management and engineering will commence immediately at Subsea 7's offices in Stavanger, Norway, with offshore operations commencing in 2015 and 2016.

-The project will provide the basis for a permanent Subsea 7 presence in Northern Norway, which will be established in the first year of the project.

-Shares closed Monday at NOK136.70, valuing the company at NOK48.09 billion.

-Write to Dominic Chopping at dominic.chopping@dowjones.com; Twitter: @DowJonesNordics

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