Subsea 7 scoops Sole award from Cooper

  • Business & Finance

Subsea 7 has been awarded a “sizeable contract” by the oil and gas Australian company, Cooper Energy, for the Sole development project, offshore Australia.

Subsea 7 defines a sizeable contract as being between $50 million and $150 million.

The Sole gas field is located in the eastern part of the Gippsland Basin, approximately 40km offshore Victoria, Australia.

According to the company’s statement on Tuesday, the contract scope consists of the subsea tie-back of the Sole well to the Orbost Gas Plant, including the fabrication and installation of 64km of pipeline, spool and manifold, along with installation of a 64km umbilical and the commissioning of the system.

Project management and engineering will start immediately from Subsea 7’s office in Perth, Australia, with offshore operations scheduled to start in 2018. The material offshore operations are subject to the Sole development project final investment decision which is anticipated soon.

To remind, Cooper said on Monday it was looking to sanction the project in March 2017 with first gas expected two years later. The Sole development plan has been finalized and is based on a two well subsea development plan.

Andy Woolgar, Managing Director, Australia and New Zealand, said: “This award draws upon Subsea 7’s substantial experience of delivering projects in the Gippsland Basin over the last 40 years. We look forward to leveraging this established and proven record in pipeline fabrication and offshore installation to help Cooper Energy as it develops its offshore gas resources.”

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