Subsea 7 announced the award of a large(1) contract by Saudi Aramco for Marjan Increment Projects - Package 2, offshore Saudi Arabia.

The engineering, procurement, construction and installation (EPCI) contract is awarded for execution in consortium with L&T Hydrocarbon Engineering (LTHE), a subsidiary of Larsen & Toubro.

The consortium’s workscope consists of EPCI of new tie-in platforms, production deck manifolds, approximately 217 kilometres of rigid pipelines, approximately 145 kilometres of power cables, and a fibre optic cable in the Marjan field in water depths of approximately 45 to 52 metres. Offshore execution is due to take place in 2021 and 2022.

Adzariat Monergi, Subsea 7’s Vice President Middle East said, “This award builds on our track record of reliable project execution in the Kingdom of Saudi Arabia, and the close collaboration we enjoy with LTHE. We look forward to continuing our successful relationship with Saudi Aramco, supported by the recent offshore completion of several projects.”

(1) Subsea 7 defines a large contract as between USD 300 million and USD 500 million. This value range refers to Subsea 7’s share of the consortium contract

About Subsea 7

Subsea 7 (Oslo Børs: SUBC, ADR: SUBCY, ISIN LU0075646355) is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

About Larsen & Toubro

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 20 billion in revenue. It operates in over 30 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

About Saudi Aramco

Saudi Aramco is a leading global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.
“We are counting on the long-standing relationship between Saudi Aramco and SABIC on one side, and KBR on the other, to develop this preliminary engineering package for the world-class complex.” says Fahad E. Al-Helal, vice president of Project Management.