Subsea7 has secured a major award covering deepwater subsea work for an unnamed client, with offshore activity set to begin in mid-2025.
In an update on Friday the offshore contractor reported it had secured a contract for a two-phase subsea development, working in some 2,000m of water.
The first phase has been recorded in the backlog of its subsea and conventional business, in the second quarter of 2023.
A second phase, expected to follow in 2024, remains subject to sanction by the unnamed client.
The “major award” infers a share of revenue worth over $750 million.
The group said its initial scope of work comprises engineering, procurement, construction, and installation of approximately 37km of infield flowlines, 47km of control umbilicals and associated subsea equipment, all in water depths of some 2,000 metres.
The award also includes additional FEED studies and options to further extend the scope of work.
Project management and engineering are to be carried out by a local Subsea7 office and offshore activities relating to the first scope are expected some time between Q2 2025 and Q3 2025.
The company said it could not disclose any further details due to contractual obligations.
The sizable water depth suggests the contract could relate to work in the Gulf of Mexico, West Africa or Brazil, though areas of the Black Sea also reach depths of around 2,200m.
In 2021 Subsea7 secured another major award for work on the Sakarya field offshore Turkey, as part of a consortium with Schlumberger. Its scope of work included EPCI of subsea pipelines and associated equipment to connect subsea wells in approximately 2,000 metres of water.