Norwegian contract for Subsea 7

Contracts, Tenders and Rates - September 7, 2012

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Subsea 7hasannouncedthe award of acontract from Talisman Energy Norgefor the development of a gas export pipeline at the Varg field,200km off the Norwegian coastline, West of Stavanger. The contract is valued at approximately US$60 million.

The contract is for the engineering, procurement, installation and construction of a 6km flowline and flexible riser system as well as the installation of associated subsea structures, protection systems, and tie-ins.

Engineering and project management will commence immediately at Subsea 7s Stavanger office with offshore operations due to commence summer 2013.

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