Subsea 7 has been awarded a contract worth up to USD 300 million for works offshore Saudi Arabia as part of a long-term agreement, the company said on Thursday.
The contract was designated as “substantial,” which Subsea7 defines as being valued at USD 150 million-300 million.
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.
The client was undisclosed but the field is operated by Saudi Aramco.
Engineering activities will commence immediately, with offshore operations scheduled for 2026, the company said.
The project will be managed from Subsea7’s office in Al Khobar, Saudi Arabia, with support from offices in Dubai and Singapore.
“This award builds on Subsea7’s decade-long relationship with Aramco and track record of reliable project execution in the Kingdom of Saudi Arabia,” David Bertin, senior vice-president for Subsea7 Global Projects Centre East, said.
“We look forward to working together to deliver this project safely and efficiently, and we aim to support our client’s offshore development goals.”
Source: By theenergyyear.com