Wednesday, September 10, 2014 7:42:47 PM
By Dominic Chopping
Norwegian seabed-to-surface engineering contractor Subsea 7 S.A. (SUBC.OS) said Thursday that as part of a consortium with Technip (TEC.FR), it has been awarded a contract from Tullow Ghana Limited for a project offshore Ghana. Subsea 7's share of the contract is valued at $500 million.
MAIN FACTS:
-There is a significant fabrication scope of work which will be executed in Ghana.
-Onshore operations will be led by a team who will be located in Ghana.
-Engineering will commence immediately with offshore installation scheduled to commence in mid-2015, using the Seven Borealis.
-The TEN Field is located in the Deepwater Tano Contract Area, 60km off the coast of Ghana and approximately 30km west of the Tullow Operated Jubilee Field.
-Shares closed Wednesday at NOK128.20, valuing the company at NOK45.1 billion.
http://ih.advfn.com/p.php?pid=nmona&article=59812141
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