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Tuesday, 07 October, 2008, 07:10 GMT | more prices >>

Subsea 7 'scoops Angola Block 31 gig'



By Upstream staff 

Subsea 7 has landed a major $460 million contract for a project in Africa which industry sources told Upstreamonline relates to BP’s Block 31 North East development in Angola.

The contract, Subsea 7’s largest ever in Africa, takes the form of “a framework agreement with call-off services in support of a major development programme in offshore West Africa”, the company said.

Subsea 7 said it had signed the first call-off contract under the frame agreement and it is this initial package that is valued at $460 million.

Sources suggest the framework deal will see Subsea 7 also heavily involved in future projects in the deepwater acreage including Block 31 South East and Block 31 Mid and perhaps also Block 18 West off Angola.

Subsea 7 will use its newbuild, flexible pipelay and construction vessel Seven Seas for the work.

This contract is expected to herald the award of other key packages related to the Block 31 projects including those covering a floating production, storage and offloading vessel, umbilical, risers, flowlines, installation work and subsea production systems.


Friday, 04 July, 2008, 10:24 GMT  | last updated: Friday, 04 July, 2008, 17:43 GMT

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