Statoil awarded a NKr40 million contract to Subsea 7 to provide subsea construction work for the Visund gas export system. The Visund field is in Norwegian North Sea block 34/8, 22-km north of the Gullfaks field. Since 1999, Visund has been producing oil through a semisubmersible platform.

Subsea 7's workscope for this project (a call-off arrangement under an existing frame agreement with Statoil) covers detail design, fabrication, and installation of a riser base, protection structure, pipeline end manifold, and a tie-in spool. Subsea 7will employ an as yet undesignated vessel from the contractor's fleet with the done during summer 2005.

12/2/04