Subsea 7 Wins Major Contract Offshore Angola

Angola Block 14
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Subsea 7 has been awarded one of the largest contracts available offshore West Africa by Cabinda Gulf Oil Company Limited, an affiliate of ChevronTexaco Corporation. The EPIC (Engineering, Procurement, Installation and Commissioning) work scope, with a value of about US $270 million, is for the development of the Lobito and Tomboco fields, in Block 14, offshore the Province of Cabinda in Angola and will be undertaken by two separate companies affiliated with Subsea 7.

The project is to tie-back three subsea well centers which are located approximately 10 km from the Benguela-Belize Compliant Production Tower. Subsea 7 will fabricate and install steel pipelines, flowline jumpers, connectors and umbilicals as well as install operator supplied equipment such as manifolds and distribution units. The Lobito and Tomboco fields are in water depths of between 400 and 600 meters.

For the offshore execution, Subsea 7 will use its multi purpose pipelay vessel Skandi Navica along with a support vessel from its fleet. The project work is expected to be performed in 2006. Engineering and project support will be undertaken from Subsea 7's Houston office.

The steel flowlines are being fabricated in Angola, at a new spool base in Luanda. For the fabrication of these pipelines, and for many other services to the project, Subsea 7 will engage a range of local Angolan contractors. As such, Subsea 7 will ensure a high local Angolan content.

David Cassie, Subsea 7's Senior Vice President - Global Business Acquisition said, "As Angola is one of the biggest subsea markets in the world, establishing ourselves there has been one of our prime strategic objectives. This award allows us to achieve this objective and develop a true local presence. We are also extremely pleased to extend the good relationship we have enjoyed with ChevronTexaco in other parts of the world into this arena."

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