Energy services giant Subsea 7 has bagged a multi-million pound contract for work in the Caribbean.
Oil giant BP (LON: BP) picked the Oslo-listed company to carry out work on the TOPR project, located offshore Trinidad and Tobago, in water depths of up to 85 metres.
A value for the contract wasn’t given, but Subsea 7 (OSLO: SUBC) described it as “sizeable”, meaning its worth between $50 million and $150m.
The project covers the installation of a 60 mile, 12-inch pipeline, associated shore approach and diver tie-in spools.
Front end engineering and design (FEED) is already underway, and the engineering, procurement, construction, installation scope is scheduled to begin this month.
Project management and engineering will take place in Subsea 7’s office in Houston, Texas.
Craig Broussard, vice president for Subsea 7 US, said: “We are honoured to have been selected for the fast-track delivery of the TOPR project and we look forward to continuing our collaborative relationship with BP.”