Subsea7 awarded contract offshore Trinidad and Tobago
Luxembourg – 18 November 2022 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a contract to Subsea Integration Alliance1 to support the development of bp’s Cypre project, a gas development located offshore Trinidad and Tobago. Subsea7’s scope of the awarded Subsea Integration Alliance contract is substantial2.
Subsea7’s scope covers the concept and design, engineering, procurement, construction and installation of a two-phase liquid natural gas tieback to the Juniper platform through dual flexible flowlines and a manifold gathering system, along with topside upgrades.
Design, engineering, and project management will commence immediately at Subsea7’s offices in the USA, with offshore installation planned for 2024.
Craig Broussard, Vice President for Subsea7 US, said: “We have been working closely with bp and our suppliers at the earliest possible stage to help develop and deliver an integrated SPS and SURF solution that optimises cost and efficiency, to accelerate first gas.”
Olivier Blaringhem, CEO for Subsea Integration Alliance said: ”bp’s Cypre project is a prime example of our ability to harness the key strengths of Subsea Integration Alliance; Subsea7 with its expertise in executing complex EPCI projects, and OneSubsea’s fast-track distribution of subsea production systems. Combined, we are delivering a refined solution which enables early first gas.”
(1) Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea7 and OneSubsea®, the subsea technologies, production, and processing business of SLB, bringing together field development planning, project delivery and total lifecycle solutions under an extensive technology and services portfolio. As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver, and operate the smartest subsea projects. This eliminates costly revisions, avoids delays, and reduces risk across the life of field.
(2) Subsea7 defines a substantial contract as being one where its share of revenue is USD 150 million and USD 300 million
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Subsea7 is a global leader in the delivery of offshore projects and services for the energy industry. Subsea7 makes offshore energy transition possible through the continuous evolution of lower-carbon oil and gas and by enabling the growth of renewables and emerging energy. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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