Killajoules

Apache Completes Sale of Lucius and Heidelberg Gulf of Mexico Developments
Apache Corporation (NYSE, Nasdaq: APA) today announced that it has completed the previously disclosed sale of non-operated interests in the Lucius and Heidelberg development projects and 11 primary term deepwater exploration blocks to a subsidiary of Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and other interest owners for $1.4 billion. Certain working interest owners in the Lucius oil development exercised their preferential rights to purchase their pro-rata share of Apache's interests in Lucius on the same terms as those negotiated by Freeport-McMoRan.

Subsea 7 S.A. awarded contract in Gulf of Mexico
Subsea 7 S.A. (Oslo Børs: SUBC; the Company) has been awarded a contract in the U.S. Gulf of Mexico by Freeport-McMoRan Oil & Gas in support of its development of the KOQV and Holstein Deep fields. The contract value is in excess of $50 million.

The scope of work covers the installation of flexible pipelines and umbilicals for both fields, with the offshore installation phase expected to be executed by the Subsea 7 vessel the Seven Seas in the fourth quarter of 2015. Onshore project management and engineering will be carried out from the Company’s Houston office.

Olivier Carré, Subsea 7’s Senior Vice President – Africa & Gulf of Mexico, said: “This is the first deepwater project for Freeport-McMoRan Oil & Gas and we look forward to building and developing our partnership with them. Subsea 7’s track record in managing and executing projects of this nature, working closely with the client, was key to our success in securing this contract.”