Schlumberger and Subsea 7 Share Bacalhau Contract

Schlumberger and Subsea 7 Share Bacalhau Contract
Equinor has awarded a Schlumberger-Subsea 7 partnership a contract for its Bacalhau project. IMAGE SOURCE: Schlumberger

Equinor (NYSE: EQNR) has awarded Subsea Integration Alliance (SIA) a contract for its Bacalhau project in the Santos Basin offshore Brazil, Schlumberger (NYSE: SLB) reported Tuesday.

Schlumberger’s OneSubsea unit and Subsea 7 (OTCMKTS: SUBCY) comprise the SIA partnership. The engineering, procurement, construction, and installation (EPCI) contract scope covers Bacalhau’s subsea production systems (SPS) and subsea pipelines (SURF), Schlumberger noted in a written statement emailed to Rigzone.

According to Schlumberger, development of the Bacalhau field – located 115 miles (185 kilometers) offshore Brazil’s Sao Paulo state at a 6,756-foot (2,050-meter) water depth – calls for 19 trees and associated subsea equipment including subsea wellheads, subsea controls and connection systems, and a full completion workover riser. The company added the SURF scope consists of rigid risers, flowlines, and umbilicals.

“This award reflects our commitment to enhance the performance of Equinor’s Bacalhau field through an open collaboration approach, with the integration and application of innovative subsea technology solutions building on Schlumberger’s high pressure and deepwater expertise,” remarked Schlumberger Production Systems President Donnie Ross. “At the same time, this will have a positive impact on the regional economy through in-country value creation.”

Schlumberger stated that project management and detailed engineering will occur in Rio de Janeiro. It added that offshore activities – deploying Subsea 7’s reel-lay, flex-lay, and light construction vessels – will start next year.

“We have worked closely with Equinor since the FEED award back in 2020,” commented SIA CEO Stuart Fitzgerald. “Now in the EPCI phase, we will support Equinor in maximizing the Bacalhau field’s potential through Subsea Integration Alliance’s leading portfolio of technologies and services, and a ‘one team’ approach to project delivery.”

Equinor revealed early this month that it, along with partners ExxonMobil (NYSE:XOM), Petrogal Brasil, and Pre-sal Petroleo SA (PPSA), had taken a final investment decision on the approximately $8 billion first phase of Bacalhau.

Schlumberger on Tuesday did not specify the value of the EPCI contract, only describing it as “large.”

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