Luxembourg - 30 July 2015 - Subsea 7 S.A. (Oslo
Børs: SUBC, ADR: SUBCY) today announced the award
of a contract with a value of approximately USD 500
million by BP, and partner DEA, for the development
of the Taurus and Libra subsea fields offshore
Alexandria, Egypt. The contract is the first phase
of Egypt's West Nile Delta project where field
development will be at depths of approximately 800
metres.
The contract scope includes the engineering,
procurement, installation and pre-commissioning of
subsea infrastructure required to develop the
hydrocarbon resources from nine wells including 75
kilometres of umbilicals and 100 kilometres of
pipeline.
Engineering and project management work will
commence immediately and will be undertaken at
Subsea 7's Global Projects Centre in London.
Fabrication of the subsea structures and spools
will be carried out at the Petrojet Maadia yard
near Alexandria. Offshore installation is scheduled
to commence in the second half of 2016 using the
Subsea 7 pipelay vessel, Seven Borealis, and heavy
construction vessel, Seven Arctic.
Øeyvind Mikaelsen, Executive Vice President
Southern Hemisphere and Global Projects said: "This
large contract awarded by BP for the first phase of
the West Nile Delta field development recognises
the value we bring to our clients through early
engagement with them to engineer, design and
deliver cost-effective solutions for complex field
developments. We look forward to expanding our
presence in Egypt and building on our long,
successful and collaborative relationship with BP."
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Subsea 7 S.A. is a leading global contractor in
seabed-to-surface engineering, construction and
services to the offshore energy industry. We
provide technical solutions to enable the delivery
of complex projects in all water depths and
challenging environments.
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Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 (0)20 8210 5568
isabel.green@subsea7.com
www.subsea7.com
Contact for media enquiries:
Carol Reed
Group Communications Director
Tel. +44 (0)20 8210 5570
carol.reed@subsea7.com
www.subsea7.com
