Subsea 7 Wins ROV Contracts in Trinidad and Venezuela

Subsea 7 announced that its Gulf of Mexico Integrated Remote Technologies (IRT) Group has been awarded two contracts for the provision of Remote Operated Vehicle (ROV) services onboard the Drilling Rig 'Sovereign Explorer'. The work, which will be conducted in water depths of up to 750 meters, will be for Statoil Plataforma Deltana AS and the client consortium headed by British Gas Trinidad & Tobago and British Gas International Limited and including partners ChevronTexaco, Petrotrin, Eni and PetroCanada.

Mobilization was completed in Las Palmas, Gran Canarias with offshore operations commencing upon arrival in Trinidad in September 2004. The contracts are valued in the region of $2M and run until December 2005.

The combined work scope includes six firm wells, with additional optional wells thereafter. Under the existing Statoil Frame Agreement, the first contract covers two wells for the drilling program for Statoil Deltana, block 4, in Venezuela. A separate contract will cover four wells for the British Gas Trinidad & Tobago and British Gas International Limited drilling program for 2004-05 in the East and North Coast Marine Areas offshore Trinidad.

Two Centurion HD work class ROVs will be utilised during the project, with the option for provision of a Tool Deployment Unit (TDU) and tooling for completion operations.

Ian Cobban, Vice President for Subsea 7's Integrated Remote Technologies division, commented "We are delighted with these awards, from British Gas Trinidad & Tobago and British Gas International Limited for operations in Trinidad and Statoil Plataforma Deltana AS which sees us returning to Venezuela, where we provided similar services to Petróleos de Venezuela S.A. (PDVSA) for over a year and a half in 2002-2003 with zero downtime."

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