Subsea 7 Gets $440 Million Contract For Offshore Australia
29 Juli 2011 - 9:10AM
Dow Jones News
DOW JONES NEWSWIRES
Norwegian seabed-to-surface engineering and construction
contractor Subsea 7 SA (SUBC.OS) Friday said it has won a $440
million contract from Chevron Australia Pty Ltd. (CVX) for the
Gorgon natural gas project, offshore Western Australia.
The contract includes installation and tie-in of heavy lift
structures in the Gorgon and Jansz fields. Project management and
engineering will start immediately while the offshore operations
are scheduled to start in 2013.
The Gorgon project is one of the world's largest natural gas
projects, and is operated by Chevron and is a joint venture of the
Australian subsidiaries of Chevron, ExxonMobil Corp. (XOM), Royal
Dutch Shell PLC (RDSA), Osaka Gas Co. Ltd. (9532.TO), Tokyo Gas Co.
Ltd. (9531.TO) and Chubu Electric Power Inc.(9502.TO).
Shares Thursday closed at NOK143.80.
-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097;
katarina.gustafsson@dowjones.com
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