Subsea 7 has won a major contract for a two-phase subsea development worth more than $750m.
The client and the project have not been disclosed, but the Oslo-listed company said its initial work scope will cover engineering, procurement, construction, and installation of around 37 km of infield flowlines, 47 km of control umbilicals and associated subsea equipment in water depths of 2,000 m, suggesting it could be one of Brazil’s deepwater developments.
The contract also includes additional front-end engineering design (FEED) studies and options to further extend the scope of work. The project will be led by Subsea 7’s local office, with offshore work on the first phase expected between the second and third quarters of 2025.
At the end of the first quarter, Subsea 7’s backlog stood at $9.7bn up from $9bn at the end of 2022. The first phase of the new project has been recorded in the company’s second-quarter backlog, while the second phase, expected in 2024, “remains subject to sanction by the client,” Subsea 7 said.