Subsea 7 get three more contracts from Venture frame agreement
2008.07.17 -
Contracts
Subsea 7 Inc (OSE Symbol: SUB), one of the world`s leading subsea engineering and construction companies, announced today the award of three new projects valued at approx. US $ 67 million under the existing long term partnership frame agreement with Venture Production plc in the North Sea.
Under the agreement Subsea 7 executes all of Venture`s subsea engineering, construction and Inspection Repair and Maintenance (IRM) works. These new projects are for the subsea development of the Grouse, Stamford and Chestnut P2 fields.
The Grouse field will tie into the Kittiwake platform via the previously Subsea 7 installed Goosander towhead. Stamford will tie into the Markham platform in the Dutch sector and Chestnut P2 will tie into the recently installed facilities
at Chestnut.
The work scope includes project management, engineering, procurement, fabrication, installation and pre-commissioning of approximately 40km of 6`, 3` and 2` diameter rigid pipe and associated umbilicals. The three projects will be executed as a combined offshore campaign in Q3 and Q4 2008 using the recently acquired pipelay vessel the Seven Navica.
Engineering has already commenced and is being performed at Subsea 7`s Aberdeen offices. Fabrication of the pipelines has started at Subsea 7`s new North Sea pipeline fabrication and spoolbase facility at Vigra, on the west coast of Norway.
Robin Davies, Subsea 7`s North Sea Vice-President stated, `These recent awards build on Subsea 7`s now long standing partnership agreement with Venture as its subsea partner of choice for all subsea work in the North Sea. This unique
agreement continues to create sustainable value for Venture and Subsea 7 because it aligns the interests and expertise of both parties.`
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
