Subsea 7 Building New North Sea Spoolbase

Subsea 7 has signed agreements with Giske Community and Alesund Regional Harbour Authorities for the rental of land and quay for Subsea 7's new fabrication spoolbase on the island of Vigra in Giske Community, near Alesund on the Norwegian West Coast. The agreements are subject to the required Planning Approvals for the area.

Subsea 7's new spoolbase will serve the North Sea requirements for pipe fabrication in support of Subsea 7's pipelay vessels Skandi Navica and Seven Oceans.

The investment, preliminary estimate to 150 MNOK, will create up to 75 new jobs in the Giske Community and provide Subsea 7 with a state of the art fabrication spoolbase. The spoolbase will be able to prepare up to 18" diameter pipelines in lengths of up to 3 km for spooling onto reeled pipelay vessels. The spoolbase will be equipped for welding of any steel materials from traditional carbon steel to technical advanced materials, for Pipe-in-Pipe, plastic lined pipelines and Steel Catenary Risers (SCR).

Robin Davies, North Sea Vice President for Subsea 7 said, "We are delighted to announce this important investment for Subsea 7. The investment in the new North Sea Spoolbase enables Subsea 7 to remain highly competitive for future pipelay projects and is a further step after the earlier announced investment in the new built reeled pipelay vessel Seven Oceans. It is in line with the company's strategy to modernise and expand our capability in subsea intervention and construction, in order to provide our customers a best in class subsea service."

Tor Espedal, Vice President for Subsea 7 Norway, stated, " With the extensive current and predicted volumes of oil and gas production in the North Sea being delivered through subsea facilities, our ability to deliver high quality pipelines will be an important competitive edge for Subsea 7. This is a very exciting development for Subsea 7, and allows us to expand the significant infrastructure we have already established in Norway.