Subsea 7 Signs Global Offshore Contracts

Woodside pegs engineering specialist for offshore work.

Oil and gas explorer Woodside has awarded three contracts for offshore development work to engineering specialist Subsea 7.
The deals include engineering activities for the SNE Field Development-Phase 1 in offshore Senegal, the Scarborough Project in offshore Australia and the Julimar Development Phase 2 also in offshore Australia.
“The award of the SNE FEED contract by Woodside to Subsea Integration Alliance reflects our expertise in integrated projects and we look forward to strengthening our relationship with Woodside,” said Gilles Lafaye, vice president Africa for Subsea 7.

All three projects will be executed using reeled pipelay and heavy construction vessels from Subsea 7’s fleet with offshore campaigns scheduled between 2021 and 2023.

BP Awards North Sea Subsea Works
The awards follow a separate deal with BP Exploration last month for the provision of subsea construction, inspection, repair and maintenance services across BP’s North Sea assets in the West of Shetland and Northern North Sea.

“We have over 20 years’ experience working with BP both in the North Sea and in particular the challenging environmental conditions offshore West of Shetland. This award, which is a renewal of our existing contract, acknowledges the strength and depth of our Life of Field capabilities, technology expertise and proven track record in the successful delivery of safe, efficient and reliable operations,” said Steve Wisely, senior vice president at i-Tech Services.

Offshore Activity Set to Grow in 2019

Thanks to a spate of recent project wins, the company recently reported a positive outlook for breakbulk operations in 2019, posting an increase in revenue of two percent for the full year 2018.

“Robust performance was driven by the improving activity levels in deepwater oil and gas and was supported by solid results from businesses acquired by Subsea 7 during the downturn,” said Kristian Siem, chairman at Subsea 7.
Subsea 7 expects the positive trend of increased tendering and award activity to continue in 2019 and anticipates several large greenfield oil and gas projects will be awarded to the market in the year, and predicts that most of the projects that Subsea 7 is tendering have breakeven levels well below the projected long-term oil price         
Photo: Subsea 7 Borealis. Credit: Subsea 7