Subsea 7 S.A. (Oslo Børs Børs: SUBC, ADR: SUBCY) today announced the award of a substantial contract, offshore Egypt, by Pharaonic Petroleum Company to be executed at water depths of over 900 metres in the Atoll field.
The contract scope includes the engineering, procurement, construction and installation of more than 40 kilometres of rigid pipelines and associated structures for the new Atoll field, tying into the existing Taurt field at a water depth of 100 metres. A 105 kilometre umbilical will also be installed linking the Atoll field to shore.
Engineering and procurement services have already commenced. Offshore campaigns will take place in the second half of 2017 and the early months of 2018, using the Subsea 7 vessels Seven Borealis, Seven Eagle, and Seven Arctic.
Subsea 7’s Region Vice President for Africa, Gilles Lafaye, said: ‘We are delighted to strengthen our presence in Egypt. This substantial contract award recognises our technical expertise and track record of strong execution for Pharaonic Petroleum Company’.
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