Subsea7 today announced the signing of a strategic collaboration agreement between PETRONAS Suriname E&P B.V. (“PETRONAS Suriname”), a subsidiary of PETRONAS and Subsea Integration Alliance (SIA), which comprises Subsea7 and SLB OneSubsea. The agreement creates a long-term framework for close collaboration on field development projects in Suriname.

Through early engagement and integrated execution, the collaboration aims to simplify complex procurement processes, reduce total development costs and enhance delivery certainty. The optimisation of project timelines, combined with a reduction in execution risk, will enhance project economics and unlock opportunities across a portfolio of prospects in Suriname.

Under the framework, SIA will provide pre-FEED, FEED and engineering, procurement, construction, installation and commissioning (EPCIC) solutions for multiple prospective projects. The scope includes subsea umbilical, riser and flowlines (SURF) from Subsea7, and subsea production systems (SPS) from SLB OneSubsea.

Craig Broussard, Senior Vice President for Subsea7, said: “We are proud to be working with PETRONAS Suriname through this strategic agreement to establish strong, sustainable foundations in Suriname that will support growth in this emerging frontier basin. The agreement builds on our track record of collaborating with our clients to drive value creation through the delivery of optimised development solutions. We are excited to see the positive impact this work will have in the region.”

Olivier Blaringhem, CEO of Subsea Integration Alliance, said: “This is an exciting and important step for the development of the significant opportunities of PETRONAS Suriname in Suriname’s frontier basins. The combined deepwater expertise and collaborative, agile approach of Subsea7 and SLB OneSubsea, will maximize value as the developments secure vital energy resources in the region.”

About Subsea7

Subsea7 is a global leader in the delivery of offshore projects and services for the energy industry.
Subsea7 makes offshore energy transition possible through the continuous evolution of lower-carbon oil and gas and by enabling the growth of renewables and emerging energy.

About Petronas

Petroliam Nasional Berhad (PETRONAS) is a global energy company committed to producing and delivering energy and solutions needed to advance society responsibly and sustainably.
As Malaysia’s national oil and gas company, we safeguard and manage the nation’s hydrocarbon resources. Our aim is to maximise value through our integrated business model to meet the energy needs of the nation and our customers across the globe. Our portfolio includes oil and gas, petrochemicals, petroleum products, as well as a range of cleaner energy solutions.