Subsea 7 Secures Major Contract for Two-Phase Subsea Development Project
Offshore installation services firm Subsea 7 said Friday it had won a major contract for a two-phase subsea development with an unnamed client.
The first phase has been recorded in the backlog of the Subsea and Conventional business unit in the second quarter of 2023. The second phase, expected in 2024, remains subject to sanction by the client, Subsea 7 said.
The initial scope of work to be executed by Subsea7 comprises the engineering, procurement, construction, and installation of approximately 37 kilometers of infield flowlines, 47 kilometers of control umbilicals and associated subsea equipment in water depths of 2,000 meters.
The contract also includes additional FEED studies and options to further extend the scope of work.
Project management and engineering will be led by Subsea7’s local office and offshore activities relating to the initial scope are expected between Q2 2025 and Q3 2025.
"No further details are disclosed at this time due to contractual obligations," Subsea 7 said.
Still, Subsea 7 said the contract was a major one, which Subsea 7 defines as being one where Subsea 7’s share of revenue is over $750 million.