Subsea 7 awarded contract Offshore Egypt

Subsea 7 S.A. (Oslo Børs: SUBC ADR: SUBCY)  announced the award of a sizeable contract to Subsea 7 by Pharaonic Petroleum Company S.A.E. for the development of the East Nile Delta Phase 3 Project (END-3). This award was the result of a competitive tender process.

The project scope includes installation engineering, procurement and fabrication of rigid spools, and installation of pipeline, umbilical and subsea structures to develop the resources from two wells including 8 kilometres of umbilicals and pipeline. The field development will be at depths of approximately 80 to 90 metres. Fabrication of spools will be carried out at Petrojet’s yard in Egypt. Offshore installation is scheduled to commence in the fourth quarter of 2015 using the Subsea 7 vessels Rockwater 2 and Seven Borealis.

Gilles Lafaye, Vice President Africa, said: “Subsea 7 is pleased to once again provide services for the Taurt and Ha’py field developments. This important award recognises our technical expertise and strong track record of good execution for Pharaonic Petroleum Company and reinforces our presence in Egypt.”

Subsea 7 S.A.

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.

For more information, please visit: www.subsea7.com