Subsea 7 Wins US $70 Million Contract

Subsea 7 has been awarded a North Sea contract worth US $70 million. The contract will take place in three stages and will be completed in August 2005. Detailed engineering will be undertaken by Subsea 7's engineering department. The first and second phases of the offshore installation will take place in 2004.

Subsea 7 expects to be in a position to give further details in January 2004.