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Subsea 7 Lands Contract from Brunei Shell Petroleum

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Subsea 7 (SUBC.OL) secured a "sizeable" contract to deliver subsea installation for Brunei Shell Petroleum's pipeline replacement project offshore Brunei.

The agreement includes the engineering, procurement, construction, and installation of a subsea pipeline, as well as riser systems, according to a Friday release.

Project management and engineering work are slated to start immediately. The offshore engineering and construction services company values a sizeable contract at between $50 million and $150 million.

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