Subsea 7 scores hat-trick in Saudi Arabia
- Business & Finance
Subsea 7 has been awarded three contracts, together representing a sizeable award for Subsea 7, by Saudi Aramco under the long-term agreement between the parties for execution offshore Saudi Arabia.
The engineering, procurement, construction and installation (EPCI) contracts are awarded for execution in consortium with L&T Hydrocarbon Engineering (LTHE), a subsidiary of Larsen & Toubro, Subsea 7 said on Friday.
Subsea 7 defines a sizeable contract as being between $50 million and $150 million. This value range refers to Subsea 7’s share of the consortium contract.
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.
The work will start 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.”
It is also worth mentioning that, in April this year, Subsea 7 was awarded two contracts from Saudi Aramco for conventional projects in shallow water offshore Saudi Arabia. The engineering, procurement, construction and installation (EPCI) contracts were awarded in consortium with LTHE, under a long-term agreement with Saudi Aramco.
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