Seabed-to-surface engineering, construction and offshore energy industry services company Subsea 7 (OSE: SUBC) announced a subsea umbilicals, risers and flowlines (SURF) contract worth 175 million U.S. Dollars to ATP Oil & Gas and and contractor Bluewater operated Cheviot Field offshore Shetland on Friday. The field will use a moored floating process facility to import oil from drill centres and allowing it to be further exported by shuttle tankers.
The scope of the contract includes transport and installation of client provided flexible flowlines and risers, control umbilicals and 4.2 km flexible oil plus 48 km rigid gas pipeline. The oil field will be served by a floating Octabuoy Dry Tree semi-submersible production platform currently under fabrication. Post-installation Subsea will do the required trenching of the subsea lines and tie-in of the lines to the Octabuoy and drilling centres plus testing and pre-commissioning activities.
Engineering and project management will be done in Aberdeen and offshore operations are due to begin in 2014. Earlier in the week Subsea 7 also announced a 100 million $ SURF contract from Suncor Energy on the Terra Nova Field, some 350 km SE of St John’s, Newfoundland, offshore Canada. Subsea advanced 3% on Friday to close the week with a small plus.
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