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Subsea 7 win U.K. contracts from BPSubsea 7, based in Aberdeen, has won two major U.K. contracts from BP Exploration Operating Co. Ltd. The two awards have a combined value of more than $45 million. The first is to install 35 kilometers of six-inch coated rigid pipeline in the Eastern Trough Area Project (ETAP) located 130-145 miles east of Aberdeen in water depths of between 85 and 90 meters. The subsea tie-back to the central processing facility is part of the Machar Artificial Gas Lift development. The contract may utilize Subsea 7's reeled pipelay vessel, Skandi Navica, and diving support vessel, Pelican. The installation phase is scheduled for second quarter 2003, and project completion is anticipated by the end of third quarter 2003. The second contract is for the provision of diverless construction and inspection, repair and maintenance (IRM) services for BP's West of Shetland operations. The work will include activity in BP's Schiehallion and Foinaven fields in water depths of between 375 and 550 meters. The contract is likely to use two multi-support vessels, the MSV Subsea Viking and the MSV Nordica, beginning second quarter 2003. Subsea 7 was formed as a result of a combination of Halliburton Subsea and the subsea activities of DSND Subsea ASA. |