| Work Detail |
Offshore engineering and services player Subsea 7 has won three new deals for work in the US Gulf of Mexico and Saudi Arabia. Supermajor Shell contracted the company for the engineering, procurement, construction, and installation of a production flowline and related subsea infrastructure at Shell’s Phase 3 Silvertip development in the Alaminos Canyon, in water depths reaching up to 3,000 m. Beacon Offshore awarded the second deal for work in the Gulf of Mexico. Subsea 7 will work on the Monument development. The project involves installing a high-pressure 27-kilometre subsea tieback to the Shenandoah FPS, located in Walker Ridge Block 316 at water depths reaching up to 2,000 m. Subsea 7’s scope of work includes the EPCI of subsea equipment, including structures, umbilicals, production risers, and flowlines. Project management and engineering for both projects will start immediately at Subsea 7’s office in Houston, and offshore activities are expected to begin in 2026. Financial details were not disclosed but the Shell deal is considered sizeable meaning it is worth between $50m and $150m. The contract with Beacon Offshore is substantial and worth between $150m and $300m. The deal in Saudi Arabia is a long-term agreement with state-owned giant Aramco. The contract scope includes the decommissioning of existing subsea facilities as well as engineering, procurement, construction, and installation of a new pipeline and subsea equipment at the Abu Safah field. Engineering activities will begin immediately, with offshore operations scheduled for 2026. The project will be managed from Subsea7’s office in Al Khobar with support from offices in Dubai and Singapore. This is another $150m to $300m substantial deal. These announcements follow another deal in the US Gulf of Mexico and Seaway 7, the company’s renewables unit, signing a vessel reservation agreement for work on the Dogger Bank wind farm off the UK. |
