Oslo-listed Subsea 7 has been awarded an EPIC contract worth around $500m from BP and it’s partner DEA for work offshore Egypt.
The contract includes engineering, procurement, installation and pre-commissioning of subsea infrastructure to develop the hydrocarbon resources from nine wells at the Taurus and Libra subsea fields offshore Alexandria.
Engineering and project management work will commence immediately from Subsea 7 head office in London, while fabrication of the subsea structures and spools will commence at the Petrojet Maadia yard near Alexandria.
Øeyvind Mikaelsen, EVP southern hemisphere and global projects, commented: “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.”
Installation will utilise pipelay vessel Seven Borealis and construction vessel Seven Arctic, and is scheduled for the second half of 2016.