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Statoil awards Subsea 7 two North Sea contracts

OSLO, Nov 12 (Reuters) - Statoil said it has awarded two contracts worth about $90 million to Subsea 7 for projects in the North Sea PanPandora and Katla fields. Under the contracts for engineering, procurement construction and installation, Subsea 7 will connect the two fields to existing production systems, Statoil said. "We are signing these contracts earlier than what is normal for traditional project execution," Vidar Birkeland, Statoil's acting head of procurements, said in a statement. "They are important contributions to maintaining the pace of our fast-track projects." (Reporting by Oslo newsroom) Keywords: STATOIL/ (walter.gibbs@reuters.com; +47 22 93 69 02; Reuters messaging: rm://walter.gibbs.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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