Subsea 7 & Clough Win Mutineer-Exeter Contract

The Subsea 7 Clough Offshore Consortium has been awarded the EPIC subsea contract by Santos Limited for the Mutineer-Exeter oilfields development, located on the north west shelf of Western Australia.

The total contract value is in the order of US$50million with Subsea 7's portion being worth approximately US$28 million.

The Mutineer-Exeter Development is located approximately 150km north of Dampier off the coast of Western Australia in 150m of water. The Exeter field is located approximately 10km South-West of the Mutineer field. Completion of the subsea works is planned for the fourth quarter of 2004.

Clough will utilize its Derrick Lay Barge the "Java Constructor" to install 10km of 12" production pipeline, with a piggy-backed 2" well services pipeline. Mid-depth buoys for supporting the risers will also be installed from the Java Constructor.

Subsea 7 will utilize its Dive Support Vessel (DSV) "Rockwater 2" to install the risers, umbilicals and the subsea tie-ins to the wells, the mooring system and testing and commissioning. The Floating Production, Storage and Offloading (FPSO) vessel will be hooked into the subsea system at a later date by a third party contractor.

John Smith, CEO of Subsea 7 commented: "We are delighted that the Subsea 7 Clough Consortium has been awarded this challenging project which will utilize both parties' respective capabilities."

Subsea 7, which has operations in Singapore, Aberdeen, Houston, Brazil, Norway, the Caspian and West Africa, has recently opened an office in Perth which is headed up by Richard Leetham, formerly UK operations manager. This contract award will see the company recruiting approximately 20 office based staff and also will provide employment for about 300 offshore personnel.

The owners of the Mutineer/Exeter fields are Santos (33.4%) with joint venture partners Kufpec (33.4%), Nippon Oil (25%) and Woodside (8.2%).

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