Subsea 7 Inc (OSE Symbol: SUB), one of the world's leading subsea engineering and construction companies, announced today that it has been awarded a US$ 17m contract from StatoilHydro for engineering and installation of the Snorre B Riser Replacement project in the Norwegian sector of the North Sea.
The scope of work involves engineering, subsea preparations and subsea disconnection and recovery of 3 off damaged flexible risers, the installation of 3 off new risers (two 5" and one 8" riser) on the Snorre B platform and subsea tie-in of the risers to templates C & D.
The project and engineering activities will commence immediately and will be performed at Subsea 7's offices in Stavanger, Norway. The offshore operations are due to take place in three campaigns from April to September 2009.
The main offshore operations, including riser recovery, installation and tie-in operations will be performed by Subsea 7's specialised flexible pipelay and construction vessel, the Seven Seas.
Tor Espedal, Subsea 7's Norway Vice President comments: "This is an exciting but demanding scope of work due to the platform riser configuration, the weight and size of the risers and fast track nature of the project. Subsea 7 will build upon in-house knowledge from similar successfully completed projects and will use purpose-built vessel resources for execution of the work.
This is an important award in a changing market. The contract builds upon Subsea 7's successful partnership and position as the Subsea Partner of Choice for StatoilHydro on the Visund and Veslefrikk riser projects, which continues to create sustainable value for both parties through integrated working and alignment of interests and expertise. "
Snorre is an oil field in the Tampen area in the northern part of the North Sea on the Norwegian Continental shelf. The sea depth in the area is 300-350 metres. Snorre B is located in the northern part of the field and is a semi-submersible integrated drilling, processing and accommodation steel facility.
Ends 4 March 2009
For further information contact:
Subsea 7 Corporate Communications:
Julie Gauld, Tel: +44 1224 526270 or e-mail: julie.gauld@subsea7.com
Subsea 7 Norway Division, Communications manager:
Ole Marius Norvik + 44 51 72 55 61 or e-mail: olemarius.norvik@subsea7.com
Notes to editors:
1. Subsea 7 is one of the world's leading subsea engineering and construction companies offering all the expertise and assets that make Subsea, Umbilical, Riser and Flowline (SURF) field development possible.
2. With a multi-national workforce of over 5,500 people worldwide, the company's global offshore operations are supported out of the North Sea, Africa, Brazil, North America and Asia Pacific. Subsea 7 has a fleet of industry leading, dynamically-positioned ships capable of reeled and flexible pipelay, subsea construction and saturation diving and a portfolio of pipeline construction yards worldwide. (www.subsea7.com)
3. Vessel images and specifications available on request - please contact above.
