Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a contract with a value of approximately USD 500 million by BP, and partner DEA, for the development of the Taurus and Libra subsea fields offshore Alexandria, Egypt. The contract is the first phase of Egypt’s West Nile Delta project where field development will be at depths of approximately 800 metres. The contract scope includes the engineering, procurement, installation and pre-commissioning of subsea infrastructure required to develop the hydrocarbon resources from nine wells including 75 kilometres of umbilicals and 100 kilometres of pipeline.