Luxembourg  17 December 2018 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY)
today announced the award of a sizeable(1) contract by Shell for the Shearwater
Fulmar Gas Line (FGL) Re-Plumb Project, located approximately 140 miles east of
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Aberdeen.
The engineering, procurement, construction and installation (EPCI) project
workscope incorporates a 37km 24Â export line, a 14Â rigid riser, control
jumper, subsea structures and associated subsea tie-ins. Project management,
engineering and procurement work has already commenced in Aberdeen, with support
from Subsea 7Âs office in Glasgow, both in the UK. Offshore activities are
scheduled for 2019.
Jonathan Tame, Vice President UK & Canada, said: ÂFor many years Subsea 7 has
been chosen by Shell to provide engineering and project execution expertise in
the North Sea. This latest award further demonstrates our ability to design the
right engineering solutions that ensures a safe, effective and cost-efficient
project delivery.Â
(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD
150 million.
Subsea 7 S.A. is a leading global contractor in seabed-to-surface engineering,
construction and services to the offshore energy industry. We provide technical
solutions to enable the delivery of complex projects in all water depths and
challenging environments.
Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355.
Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 20 8210 5568
isabel.green@subsea7.com
www.subsea7.com
Contact for media enquiries:
Michelle Wainwright
Communications Manager, UK & Canada
Tel +44 1224 526570
Mobile +44 7876778370
michelle.wainwright@subsea7.com
www.subsea7.com
Forward-Looking Statements: Certain statements made in this announcement may
include Âforward-looking statementsÂ. These statements may be identified by the
use of words like ÂanticipateÂ, ÂbelieveÂ, ÂcouldÂ, ÂestimateÂ, ÂexpectÂ,
ÂforecastÂ, ÂintendÂ, ÂmayÂ, ÂmightÂ, ÂplanÂ, ÂpredictÂ, ÂprojectÂ, ÂscheduledÂ,
ÂseekÂ, ÂshouldÂ, ÂwillÂ, and similar expressions. The forward-looking
statements reflect our current views and are subject to risks, uncertainties and
assumptions. The principal risks and uncertainties which could impact the Group
and the factors which could affect the actual results are described but not
limited to those in the ÂRisk Management section in the GroupÂs Annual Report
and Consolidated Financial Statements 2017. These factors, and others which are
discussed in our public announcements, are among those that may cause actual and
future results and trends to differ materially from our forward-looking
statements: actions by regulatory authorities or other third parties; our
ability to recover costs on significant projects; the general economic
conditions and competition in the markets and businesses in which we operate;
our relationship with significant clients; the outcome of legal and
administrative proceedings or governmental enquiries; uncertainties inherent in
operating internationally; the timely delivery of vessels on order; the impact
of laws and regulations; and operating hazards, including spills and
environmental damage. Many of these factors are beyond our ability to control or
predict. Other unknown or unpredictable factors could also have material adverse
effects on our future results. Given these factors, you should not place undue
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http://www.netfonds.no/quotes/release.php?id=20181217.OBI.20181217S8
