BP lets Angolan services contract to Subsea 7
Aberdeen-based engineering and construction firm Subsea 7 Ltd. emerged as one of the winners from BP PLC's $10 billion investment to develop offshore oil discoveries on deepwater Block 31 off Angola.
LONDON, July 31 -- Aberdeen-based engineering and construction firm Subsea 7 Ltd. emerged as one of the winners from BP PLC's $10 billion investment to develop offshore oil discoveries on deepwater Block 31 off Angola.
The firm won a $460 million contract to provide services for the Plutao, Saturno, Venus, and Marte (PSVM) fields, the first of the projects that have been sanctioned on the block scheduled to start production in 2011. BP is hopeful to bring on stream another three developments on the block.
Subsea 7 will provide project management, engineering, and installation services associated with the subsea infrastructure, including umbilicals, pipeline jumpers, flexibles, and structures together with testing and precommissioning services.
The company will use its new-build flexible pipelay and construction vessel, the Seven Seas, for some 400 days. If the other projects come online, they could require over 1,300 days from the vessel.
Subsea 7 also will provide specialist installation equipment including lay systems and a number of deepwater workclass ROVs, deepwater heave-compensated cranes, winches, carousels, and reel drives.
The company will hire and train Angolans in marine and operational procedures and will offer an onshore training programs for engineers and business managers through an in-country and international placement student sponsorship program.
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