Luxembourg – 14 June 2024 - Subsea7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable1 contract by Dana Petroleum (E&P) Limited, for the Bittern field development, located approximately 190km east of Aberdeen in the UK Central North Sea, at a water depth of 90 metres.
The contract scope includes project management, engineering, procurement, construction and installation (EPCI) of a 22km 12” water injection pipeline. Subsea7’s scope also includes associated subsea structures and tie-ins at the Triton Floating Production Storage & Offloading (FPSO) vessel and the Bittern field.
Project management and engineering work will commence immediately in Aberdeen. The offshore activities are scheduled for Q3 2025.
Steve Wisely, Senior Vice President of UK and Global Inspection, Repair and Maintenance, Subsea7, said: "We are pleased that Dana Petroleum has chosen Subsea7 to provide project management expertise and engineering technical knowledge for this important field development. We look forward to supporting Dana in meeting their project objectives and for the opportunity to play a key role in the safe and successful completion of Bittern."
- Subsea7 defines a sizeable contract as being between $50 million and $150 million
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Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
ir@subsea7.com
Contact for media enquiries:
Michelle Wainwright
UK & Global IRM Communications Manager
Tel +44 (0)7876778370
Michelle.wainwright@subsea7.com
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This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 14 June 2024 at 13:50 CET.
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