Sunday, 15 September 2019

Oil & Gas News

Saudi Aramco Awards Subsea 7 Significant EPCI Contracts

Subsea 7 S.A. has been awarded three contracts, together representing a sizeable(1) award for Subsea 7, by Saudi Aramco under the Long Term Agreement between the parties for execution offshore Saudi Arabia.

2 Subsea7 RGB JPEGThe engineering, procurement, construction and installation (EPCI) contracts are awarded for execution in consortium with L&T Hydrocarbon Engineering (LTHE), a subsidiary of Larsen & Toubro.

The consortium’s workscope consists of EPCI for a total of 28 Jackets comprised of eight new jackets to be installed in the Marjan and Zuluf fields, ten Jackets in the Safaniya and Zuluf fields (including a pipeline decommissioning scope) and a further ten Jackets in the Zuluf and Ribyan fields. Work shall commence immediately and offshore execution is due to take place in 2020.

Adzariat Monergi, Subsea 7’s Vice President Middle East said, “These three new awards reflect the good execution and reliable performance that Subsea 7 and LTHE bring to the offshore sector in the Kingdom of Saudi Arabia. We look forward to continuing our long-term relationship with Saudi Aramco, delivering these projects safely and efficiently.”

(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million. This value range refers to Subsea 7’s share of the consortium contract.

We aim to keep you updated weekly with relevant information concerning the Offshore Energy Sector.

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