Beacon Offshore Energy has let a contract to Subsea7 for the Monument development in the US Gulf of Mexico.
The project involves the installation of a high-pressure 27-km subsea tieback to the Shenandoah floating production system in Walker Ridge block 316 at water depths up to 2,000 m, the service provider said in a release Dec. 12.
Subsea7's scope of work includes the engineering, procurement, construction, and installation (EPCI) of subsea equipment, including structures, umbilicals, production risers, and flowlines. Project management and engineering work will start immediately at Subsea7's office in Houston, Tex., with offshore activities expected to begin in 2026.
Monument
Beacon Offshore and its project partners sanctioned the first phase of the Wilcox aged Monument development earlier this year. Initial development includes a two well, 17-mile subsea tieback to the Shenandoah FPS. First production is expected by third-quarter 2026.
Subsea7 values the contract somewhere between $150 million and $300 million.
