Subsea 7 S.A. announced that SapuraAcergy Sdn Bhd (SASB) has been awarded a contract for a subsea construction project, offshore Vietnam.

The scope of work requires the installation of: 28km of 12” diameter pipeline, a 28km umbilical, PLETs and SSIV Structures, spools and pre-commissioning.

The value of the contract awarded is approximately $100 million, with the offshore work expected to be performed in mid 2012.

SASB is a joint venture company equally owned by SapuraCrest Petroleum Berhad and Subsea 7 S.A. This project will be accounted for in the share of results of associates and joint ventures line in the Subsea 7 accounts. For this reason, the value of this award will not appear in Subsea 7’s reported backlog and revenue.

Subsea World News Staff , January 10, 2012; Image: SapuraAcergy