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Subsea 7 (OSE: SUBC) wins BP contract in Gulf of Mexico

Brian Hicks

Written By Brian Hicks

Posted May 1, 2014

Norwegian deep-sea engineering firm Subsea 7 (OSE: SUBC) announced it has won a three-year contract extension with BP Exploration and Production for subsea activities in the Gulf of Mexico.

The contract covers underwater construction as well as inspection, repair, and maintenance and will include two vessels; one of which will be on a full-time contract.

Valued at approximately $160 million, this contract begins in the second quarter of 2014 and extends into the third quarter of 2017.

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