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Subsea7 - News - December 20, 2004

Third Dutch Sector award for Subsea 7

International underwater contractor Subsea 7 today received the letter of intent from Wintershall for work associated with the F16 project, in the Dutch Sector of the North Sea. Contract value is circa $4M.

Scope of work includes the installation of spoolpieces and the associated works for the F16-A project in water depths to 40 metres.

The work will be performed in two distinct phases. The first phase of the work will be performed by one of Subsea 7’s construction vessels at the turn of the year, to install the side tap protection structure. The second phase of the work is to be executed in the third quarter of 2005 and includes the metrology, fabrication and installation of the F16A spoolpieces and the hydrotesting of the pipelines between F16A and K2.

Vice President for Subsea 7 UK, Bob Gifford, commented: “Subsea 7 look forward to continuing their good relationship with Wintershall, and with our recent award from Total and current work for Shell in the Dutch sector we believe this award strengthens our position of contractor of choice for construction work in the Dutch sector.”

Ends

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For more information, contact:

Lyndsay Cruickshank on +44 1224 344606

Pat Stephen on +44 1224 344508 or +44 7712 427608

Notes to editors:

1. Subsea 7 is one of the world’s leading subsea engineering contractors. The company has offshore operations supported out of the UK, Norway, Asia Pacific, Brazil, Gulf of Mexico, West Africa, Middle East and the Caspian and employs 3000 world-wide. Subsea 7 has a fleet of remotely operated vehicles (ROVs), four pipeline construction yards and 15 modern, high specification dynamically positioned ships capable of deepwater reeled and flexible pipelay, deepwater subsea construction and saturation diving. Website: www.subsea7.com

2. Wintershall is the third largest producer of natural gas in the Netherlands and is the operating company for 23 offshore platforms. The southern North Sea is one of Wintershall's traditional key areas.

Wintershall has been active in the exploration and production of oil and gas for over 70 years. The company has its headquarters in Kassel and is now Germany's largest producer of crude oil and natural gas. In its exploration and production activities, Wintershall is deliberately focusing on selected core regions where the company possesses a wealth of regional and technological expertise. These regions include Europe, North Africa and South America, as well as Russia and the Caspian area. www.wintershall.de/wintershall.html



 


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