Koil Energy Solutions Inc. (KLNG)

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Subsea 7 Snags Major Contract for Development in West Africa

by Subsea 7 Inc.
Thursday, July 03, 2008


Subsea 7 has been awarded its largest contract to date in Africa. The contract is a framework agreement with call-off services in support of a major development program in offshore West Africa.

Subsea 7 has signed the first call-off contract under the frame agreement with an estimated value of $460 million. The services will primarily be performed using Subsea 7's new build flexible pipelay and construction vessel, the Seven Seas.

Further information regarding the contract award will be released at the earliest opportunity