Subsea 7 Inc. (OSE Symbol: SUB) announced today that it has been awarded a contract valued at upwards of US $ 80 million by BP Angola (Block 18) BV. The contract is for Life of Field support services in the Block 18 Greater Plutonio development.
Subsea 7 and its subsidiary Sevenseas Angola will be providing project management and engineering for the maintenance, repair and light construction work that is required in this deepwater field. The tie-ins of production flowlines and water injection lines to several Block 18 subsea wells are part of the work scope.
The 3 year contract which will start immediately, with an option for another 2 years, will also have Subsea 7 provide two Hercules ROV's to work from BP's deepwater support vessel. The two ROV's are state of the art work class vehicles equipped with the latest tooling and inspection tools.
Jan Willem van der Graaf, Subsea 7's Vice-President for the Africa region comments,
"In addition to our proven EPIC capability, it is a core part of Subsea 7's strategy to provide our clients with long term maintenance and construction support during the operational phase of their fields. Subsea 7 has a proven track record in Life of Field type of business over many years in other parts of the globe. We are pleased that we can bring this expertise to the market in Africa. We look forward to working closely with our Angolan partners, BP Angola and all our subcontractors to make this project a success."