Subsea 7 Bags New EPCI Deal

Oil services company, Subsea 7, informed on Friday that it has been awarded “a major EPCI contract”.

In a press statement Subsea 7 defines a major contract as being over USD 750 million.

The EPCI contract is for offshore execution in 2017 and 2018.

No further details have been revealed due to contractual obligations of the company.

Subsea 7 reported revenue of $746 million in the first quarter, 37% lower than the prior year period.

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