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Subsea 7 wins ‘sizeable’ North Sea contract for IOG’s Core project

© Subsea 7Subsea 7 shareholders

Independent Oil and Gas (IOG) has awarded a “sizeable” contract to Subsea 7 for its flagship development in the UK North Sea.

Subsea 7 has won the sought-after engineering, procurement, construction and installation deal for the recently-sanctioned Phase 1 of IOG’s “Core Project” which is due to begin production next year.

The value has not been disclosed, but Subsea 7 said it was between £40.4million and £121.3million.

It includes the Subsea, Umbilicals, Risers and Flowlines work for Phase 1, covering the Southwark, Blythe and Elgood fields which was approved in October.

Subsea 7 will carry out the contract from its office in Aberdeen with offshore activities due to begin later this year.

“Core” is a development comprised of six fields in the Southern North Sea containing 410 billion cubic feet of gas, which will be transported onshore via the Thames pipeline.

It received field development approval from the OGA last week, bringing a welcome boost for the industry, which is expecting minimal new projects in the short-term.

Jonathan Tame, vice president UK & Canada, Subsea 7, said: “We are pleased to be awarded this contract, which strengthens our reputation as a global provider of value-driven SURF solutions.

“We look forward to collaborating with IOG to ensure the cost-effective, safe and timely execution of each phase of the development.”

Pipelaying work is due to begin in the second half of this year.

Chief executive of IOG, Andrew Hockey, said: “We are pleased to be working with Subsea 7, a globally recognised leader in offshore energy services, for the SURF scope of Phase 1 of our core UK SNS gas development. They will be an important contractor for IOG in ensuring safe and efficient Phase 1 execution, which includes the offshore pipelay campaign being prepared for the second half of this year.”

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