Subsea 7 Inc (OSE Symbol: SUB), through its i-Tech division, today announced that Woodside Energy has extended its major services contract to include the provision of ROV services onboard Maersk's new build semi submersible hull B281. The ROV services contract has a three year term and offshore works will commence when the rig arrives in Australia during 2009. The estimated project value is in excess of AUD $ 12 million.
The work scope includes the provision of a new build Centurion QX ROV which will be deployed by means of a bespoke heavy weather launch system from onboard the B281 which is an ultra deepwater development semi submersible. The B281 is the second in a series of three rigs under currently construction for Maersk in Singapore.
"i-Tech's Managing Director, Neil Milne, commented, "This award further develops our relationship with Woodside and I believe demonstrates their confidence in i-Tech's capabilities to participate in this prestigious project. Furthermore we are pleased to be given this opportunity to install our latest generation 3,000m Centurion QX work class ROV to aid and enhance the capabilities of this 6th generation semi submersible."
Ends 12/12/07
For further information contact:
Bruce Masson, i-Tech Tel: +44 1224 292418
Email: Bruce.masson@subsea7.com
Subsea 7 Corporate Communications:
Jackie Doyle Tel: +44 1224 344425 / mb 07880 700044
Email: jackie.doyle@subsea7.com
1. With over 600 personnel globally, and over 70 ROV's permanently deployed (together with access to Subsea 7's additional fleet of 50 plus ROV's), i-Tech is currently the world's second largest provider of ROV support to exploration and production sector, operating out of four regional centres: Europe and Africa, Asia Pacific, the Americas and Brazil.
2. Subsea 7 is one of the world's leading subsea engineering and construction companies offering expertise and assets that make Subsea, Umbilical, Riser and Flowline (SURF) field development possible.
3. With a multi-national workforce of over 5,000 people worldwide, the company's global offshore operations are supported out of the North Sea, Africa, Brazil, Gulf of Mexico and Asia Pacific. Subsea 7 has a fleet of industry leading, dynamically-positioned ships capable of reeled steel and flexible pipelay, subsea construction and saturation diving and a portfolio of pipeline construction yards worldwide. (www.subsea7.com)
4. Subsea 7 vessel and i-Tech ROV images and specifications available on request - please contact above.
