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    Subsea 7/Technip confirm reeled pipe deal

    News // July 21, 2006

    Subsea 7 and Technip Offshore Norge AS have confirmed that they have received a letter of intent from Statoil for a two-year Frame Contract for reeled pipe installation services in
    Norway.

    The actual contract revenue will depend upon Statoil’s project requirements, however based on Statoil's estimated requirements at contract award, a total contract value of US$ 255 million is estimated.

    This includes project management, engineering, fabrication and installation of all Statoil's reeled pipe applications for 2007 and 2008.

    The management and engineering work will be performed both at Technip’s offices in Stabekk, Norway, and Subsea 7’s offices in Stavanger, Norway.

    The fabrication of the flowlines will take place at welding bases in
    Orkanger, Norway for Technip or at Subsea 7’s fabrication spoolbase in Norway.

    Pipelay, construction and survey vessels from the Technip and Subsea 7 fleets will be provided as part of the contract for the offshore installation activities.

    Tor Espedal Subsea 7’s vice president Norway commented: “We are very excited about continuing our successful working relationship with Statoil as their strategic vendor and are delighted to be undertaking this work in co-operation with Technip. We are particularly pleased about this award in light of our recently announced contract award of Statoil’s North Sea construction works”.

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