News

ubsea 7 Inc, through its i-Tech division, announced a contract award valued in excess of US million for Total E&P, Congo.

The contract is for the provision of Remotely Operated Vehicle (ROV) services onboard a semisub drilling rig and a Field Support Vessel (FSV) in the Moho Bilondo Field offshore the Republic of Congo, West Africa. Three ROVs will be provided which includes a new build Centurion QX and a Puma observation class being deployed on the FSV, and a Centurion HD being deployed on the semisub. The first vehicle will commence work in mid 2007 in water depths of in excess of 700 meters. To support this long term project i-Tech will establish an onshore facility in Pointe Noire Congo.

i-Tech's Managing Director, Neil Milne, commented, "i-Tech is pleased to be working with Total for the first time in the Republic of Congo and the opportunity afforded by this project to establish a permanent presence which we intend to build upon to secure other long term work to further enhance our in country capabilities".

Source: Subsea 7

Global Industries has received a letter of intent from Petrobras to install the 24-inch Camarupim gas line in the Espirito Santo Basin offshore Brazil.

The Camarupim Project, valued at approximately 5 million, includes project planning, detailed engineering, and installation of 52 km of pipeline, fabrication and installation of the pipeline end manifold (PLEM) and tie-in spool. The offshore installation will be performed by the Global pipelay barge Iroquois.

This is the first project awarded to Global in Brazil, a market the Company has been targeting since the recent opening of its office in Rio de Janeiro for its subsidiary, GLBL Brasil Oleodutos e Servicos Ltda.

B.K. Chin, Chairman and Chief Executive Officer of Global Industries, stated, "This continues to be an exciting period in Global's history. Entering into Brazil is in line with our strategy for continued geographic diversification. I would like to thank Petrobras for this award, and I am confident that this is the beginning of a lasting relationship."

Source: Global Industries

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