Subsea 7 awarded $140 million contract offshore Mexico

1/10/2013 1:30 AM EST

Luxembourg - January 10, 2013 - Subsea 7 S.A. (Oslo 
Børs: SUBC) today announced an award to its Mexican 
joint venture from Pemex valued at approximately $140 
million.

The contract comprises the engineering, fabrication 
and installation of a 16km pipe, two slug catchers 
and two cantilever structures for the Line 60 Project 
in the Bay of Campeche. This contract is the first 
award to the joint venture.

Project management and engineering have already 
commenced in our offices in Ciudad del Carmen and 
Houston. Offshore operations are due to commence on 
Q1 2013, with pipelay activities being conducted in 
Q3 2013 with the Seven Borealis.

Ian Cobban, Subsea 7´s Vice President Gulf of Mexico, 
said "Subsea 7 Mexico is very pleased to be awarded 
this first contract in Mexico. It represents a fine 
example of one of our core values - collaboration. We 
look forward to delivering this key field development 
and in doing so further strengthening our 
relationship with Pemex."

******************************************************
Subsea 7 S.A. is a seabed-to-surface engineering, 
construction and services contractor to the offshore 
energy industry worldwide. We provide integrated 
services, and we plan, design and deliver complex 
projects in harsh and challenging environments.
******************************************************
For further information, please contact:
Paul Gooden
Subsea 7 S.A.
+44 (0)20 8210 5568
 
www.subsea7.co