Subsea 7 JV Wins Pemex Contract

Oilfield services firm Subsea 7 announced Thursday that its Mexican joint venture has been awarded a $140 million contract from Petróleos Mexicanos (Pemex).

Subsea 7 reported that the contract comprises the engineering, fabrication and installation of a 10-mile pipe, two slug catchers and two cantilever structures for the Line 60 Project in the Bay of Campeche. This contract is the first award to Subsea 7's joint venture, it added.

Subsea 7 said that project management and engineering has already begun at its offices in Ciudad del Carmen and Houston. Offshore operations are due to start in the first quarter of this year, with pipe laying activities being conducted in 3Q 2013 with the Seven Borealis vessel.

Subsea 7 Vice President of Mexico Ian Cobban commented in a company statement:

"Subsea 7 Mexico is very pleased to be awarded this first contract in Mexico. It represents a fine example of one of our core values – collaboration. We look forward to delivering this key field development and in doing so further strengthening our relationship with Pemex."



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