Subsea7 says FEED pact could lead to larger SURF award if US operator sanctions North Sea project
US operator ConocoPhillips has awarded Subsea7 a front-end engineering and design (FEED) study contract for a project offshore Norway that could lead to a larger subsea installation award.
The FEED study is for ConocoPhillips’ Previously Produced Fields (PPF) project in the North Sea, according to Subsea7.
The development is located in the Greater Ekofisk area, about 290 kilometres southwest of Stavanger, and would connect to the existing Ekofisk complex.
The value of the FEED study deal was not disclosed. However, Subsea7 said it was part of a new framework agreement with ConocoPhillips that could lead to a “large” contract for subsea umbilicals, risers and flowlines (SURF) work, assuming the US player reaches a final investment decision (FID) on the project.
That “large” deal would fall between $300 million and $500 million, according to Subsea7, which predicted offshore installation for the development could start in 2026.
“The study will enable Subsea7 to engage early in the field development process, optimising design solutions and contributing to the final investment decision,” Erik Femsteinevik, vice president for Subsea7 Norway, said in a statement.
