Subsea7 has secured two contracts, one with Saudi Arabia’s energy heavyweight Aramco and the other with UK energy giant Shell, for the delivery of subsea infrastructure in Saudi Arabia and the Gulf of Mexico.
The long-term agreement with Aramco is seen as substantial, meaning it is worth between $150 million and $300 million, and will see Subsea7 provide decommissioning of existing subsea facilities as well as engineering, procurement, construction, and installation (EPCI) 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 the company’s office in Al Khobar, Saudi Arabia, with support from offices in Dubai and Singapore.
David Bertin , Senior Vice President for Subsea7 Global Projects Centre East, said: “ This award builds on Subsea7’s decade-long relationship with Aramco and track record of reliable project execution in the Kingdom of Saudi Arabia.”
Shortly after reporting a contract with Beacon Offshore Energy for a subsea tieback development in the U.S. Gulf of Mexico, Subsea7 announced it had secured a sizable contract, worth between $50 million and $150 million, with Shell Offshore Inc. in the area.
The project includes the EPCI of a production flowline and related subsea infrastructure at the Phase 3 Silvertip development, located in the deep waters of Alaminos Canyon, with depths reaching up to 3,000 meters, for which Shell just reached the final investment decision (FID) .
Project management and engineering will start immediately at Subsea7’s office in Houston, Texas, with offshore activities also slated for 2026.