SUBCY Subsea 7 SA (PK)

   By Dominic Chopping 
 

Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) Tuesday announced the award of a contract worth over $350 million from Petrobras (PBR).

 
   MAIN FACTS: 

-The contract is for the operation of the Pipe Lay Support Vessel (PLSV) Kommandor 3000 on a day rate basis for five years.

-Kommandor 3000 will start operations under the contract in 2013.

-The work scope is similar to the current contract, including project management, engineering and the installation of Petrobras supplied flexible lines and equipment on a day rate basis.

-Shares closed Monday at NOK133.40, valuing the company at NOK46.93 billion.

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

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