By Dominic Chopping

Subsea 7 SA said Tuesday that the Subsea Integration Alliance, an alliance between Subsea 7 and Schlumberger Ltd.'s OneSubsea unit, expects to receive final confirmation of a major contract award from Equinor ASA.

The company said if confirmed, it expects the work scope will cover engineering, procurement, construction and installation of subsea pipelines and production systems for the Bacalhau field, located 185 kilometers off the coast of Sao Paulo, Brazil.

It is expected that the contract will be recorded in backlog in the second quarter of 2021, with offshore work taking place between 2022 and 2023.

Subsea 7, a provider of services to the offshore energy industry, defines a major contract as being one where its share of revenue is over $750 million.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

June 01, 2021 08:46 ET (12:46 GMT)

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