By Dominic Chopping

Subsea 7 SA Friday confirmed the award of three contracts worth a total of at least $1.2 billion from Aker BP ASA.

The awards were pre-announced last week and include a major contract for the Yggdrasil field development project, a large contract for the Skarv Satellite Project and a substantial contract for the Valhall PWP-Fenris project, all located offshore Norway.

Subsea7 defines a major contract as being more than $750 million, a large contract as being between $300 million and $500 million, and a substantial contract as being between $150 million and $300 million.

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

(END) Dow Jones Newswires

December 16, 2022 02:42 ET (07:42 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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