Offshore contractor Subsea7 has secured a big contract from ConocoPhillips Skandinavia AS for a front-end engineering design (FEED) research for the Beforehand Produced Fields (PPF) improvement mission offshore Norway. Subsea7 stated in a media launch that the mission, value between $300 million and $500 million, has been granted beneath a Framework Settlement signed with ConocoPhillips.
The FEED research will full the technical definition for the proposed subsea improvement. Work will begin instantly at Subsea7’s Norway workplace, the corporate stated.
If the event mission receives last funding approval from the authorities, ConocoPhillips, because the operator, could select to allocate a considerable contract for subsea constructions, umbilicals, risers, and flowlines (SURF) beneath the Framework Settlement with Subsea7. Set up actions associated to this contract are set to happen from 2026 to 2029, Subsea7 stated.
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The Beforehand Produced Fields are situated within the Larger Ekofisk Space, roughly 290 kilometers (180 miles) southwest of Stavanger, Norway. The PPF improvement can be related to the present Ekofisk Advanced, Subsea7 stated.
“We’re delighted to have signed a Framework Settlement with ConocoPhillips and have been awarded this preliminary FEED contract. The research will allow Subsea7 to have interaction early within the area improvement course of, optimizing design options and contributing to the ultimate funding resolution”, Erik Femsteinevik, Vice President for Subsea7 Norway, stated.
The job offshore Norway follows an earlier deal value over $1.25 billion secured from Petroleo Brasileiro S.A. for the event of the Búzios 11 area situated roughly 180 kilometers (111 miles) off the coast of the state of Rio de Janeiro, Brazil, at 2,000 meters (6561 toes) water depth within the pre-salt Santos basin.
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