Subsea 7-Schlumberger Alliance Bags Sizeable Deal

Subsea 7-Schlumberger Alliance Bags Sizeable Deal
Subsea 7 has revealed that the Subsea Integration Alliance has been awarded a 'sizeable' contract by OKEA for the Hasselmus project.

Subsea 7 has revealed that the Subsea Integration Alliance has been awarded a “sizeable” contract by OKEA for the Hasselmus project, which is located in the southern Norwegian Sea.

The project workscope covers the engineering, procurement, construction, and installation (EPCI) of the subsea production systems (SPS) and subsea pipelines (SURF) for a single subsea well with direct tie-back to the Draugen production platform, Subsea 7 noted. The company defines a sizeable contract as being worth between $50 million and $150 million.

Project management and engineering will start immediately at Subsea 7’s offices in Stavanger, Norway, according to Subsea 7. Fabrication of the pipelines will take place at Subsea 7’s spoolbase at Vigra, Norway, and offshore operations will be executed in 2022 and 2023.

“We are delighted to be awarded this contract by OKEA,” Monica Bjørkmann, Subsea 7’s Norway vice president, said in a company statement.

“It acknowledges the value potential of Subsea Integration Alliance’s seamlessly integrated and optimized offering and extends our relationship with OKEA that began with conceptual studies. We look forward to continuing the journey on the Hasselmus field development with safety, reliability and quality at the forefront throughout,” the Subsea 7 representative added.

Stuart Fitzgerald, the chief executive officer of Subsea Integration Alliance LLC, said, “this award to Subsea Integration Alliance supports our strategy for early engagement, full subsea system delivery, and our track record with OKEA”.

“Working in partnership with OKEA has supported optimized solutions, early decision making and shortened delivery time, ultimately improving cost efficiency throughout the entire field lifecycle. We look forward to continuing to support this objective for the Hasselmus project,” Fitzgerald went on to say.

The Subsea Integration Alliance is a strategic global alliance between Subsea 7 and OneSubsea, which is the subsea technologies, production, and processing systems division of Schlumberger.

Last month, Subsea 7 announced the award of a “major” contract by Equinor to the Subsea Integration Alliance for the Bacalhau field development, located offshore Brazil. Subsea 7 defines a major contract as being one where the company’s share of revenue is over $750 million.

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