DOW JONES NEWSWIRES
Statoil Friday said it has awarded two contracts to Subsea 7,
worth about $90 million in total.
MAIN FACTS:
- The contracts are EPCI contracts, including engineering,
procurement, construction and installation of the pipelines and
control cables connecting the PanPandora and Katla fields in the
North Sea to existing production systems.
- The contracts also cover installation of the production system
on the seabed.
- They are the first contracts signed by Statoil for delivery of
subsea pipes to the new portfolio of fast-track developments.
- Field installation and pipe-laying are scheduled for the first
half of 2012.
- Production from PanPandora and Katla is to start later the
same year.
-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090;
djnews.stockholm@dowjones.com