Seven Oceans Delivers Successfully on Blind Faith

Less than 30 months after announcing plans to build its new state-of-the-art deepwater rigid pipelay vessel the 'Seven Oceans', Subsea 7 has successfully completed its first major installation project for the Chevron Blind Faith development in the Gulf of Mexico.

The Board of Subsea 7 approved the $200m investment in the vessel in June 2005. She was launched in September 2006 and handed over to Subsea 7 in July this year. Before the vessel traveled to the Gulf of Mexico she had already proven her construction capabilities having successfully completed two heavy lifts in the North Sea.

Mel Fitzgerald, Chief Executive Officer at Subsea 7 said: "When you consider this project from the day the board approved the $200m expenditure, the design, construction and commissioning of the vessel took just over 24 months, this was really a great team effort. The success of this project could only have been achieved through the successful alignment of the interests of Subsea 7 and its key shipbuilding and pipelay suppliers."

"This Blind Faith project is a milestone for Subsea 7. We have successfully completed our first offshore pipelay with the Seven Oceans on the type of job that it was designed and built for. Blind Faith is the first Steel Catenary Riser project that Subsea 7 has undertaken. To do this in ultra deepwater places Subsea 7 among the very few companies that can take on these high spec challenging projects. We have further improved our reputation with our clients and they are recognizing Subsea 7 as a company that can deliver their projects safely and on time."

Seven Oceans is one of three new vessels to have joined the Subsea 7 fleet in the last quarter. Seven new vessels in total will be added to the fleet over a 24 month period as a result of over $800m investment in new assets and equipment.

The Seven Oceans has been designed and built especially for ultra deepwater pipelaying for the offshore oil and gas industry. The 157m long vessel is fitted with a main reel capable of carrying 3,500t of rigid steel pipe and a 400t tensioner allowing deployment in water depths of up to 3,000m. A lay ramp system is permanently installed for deployment of a range of rigid products between 6"-16". The vessel can accommodate up to 120 crew.