Subsea 7 S.A. confirmed the award of a major(1) contract by Turkish Petroleum for the second phase of the Sakarya field development offshore Türkiye in the Black Sea.

The award for this two-phase subsea development was announced in redacted form on 12 May 2023. The first phase has been recorded in the backlog in the second quarter of 2023 and the second phase, expected in 2024, remains subject to sanction by the client.

The contract is awarded to a consortium including Subsea7 and its partner in Subsea Integration Alliance, OneSubsea®2, as well as SLB and Saipem. The integrated project scope of the engineering, procurement, construction, and installation (EPCI) contract will cover the subsurface solutions including subsea production systems (SPS), subsea umbilicals and flowlines (SURF).

The scope of work to be executed by Subsea7 comprises the EPCI of approximately 37 kilometres of infield flowlines, 47 kilometres of control umbilicals and associated subsea equipment in water depths of 2,000 metres. The contract also includes additional FEED studies and options to further extend the scope of work.

Project management and engineering will be managed from the Subsea7 office in Istanbul, Türkiye and offshore activities are expected between Q2 2025 and Q3 2025, with optional scope between Q4 2026 and Q4 2027 subject to final investment decision by the client.

Franck Louvety, Africa, Middle East & Caspian Vice President said: “Through the close collaboration of Subsea7, OneSubsea® and Turkish Petroleum, first gas from Sakarya Phase 1 was delivered just 30 months after discovery. Subsea7 looks forward to extending this relationship for Phase 2 and continuing our contribution to the development of the energy industry in Türkiye.”

(1) Subsea7 defines a major contract as being one where Subsea7’s share of revenue over USD 750 million.
(2) OneSubsea® is the subsea technologies, production, and processing business of SLB

About Subsea7

Subsea7 (Oslo Børs: SUBC, ADR: SUBCY) is a global leader in the delivery of offshore projects and services for the evolving energy industry. We create sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

About TPAO

Türkiye Petrolleri Anonim Ortaklığı (TPAO) has been established in order to perform hydrocarbon exploration, drilling, production, refinery and marketing activities on behalf of the Turkish Republic with the law 6327 in 1954.
TPAO continued exploration, production, refining, marketing and transportation activities until 1983 as an integrated oil company. TPAO has been acting as a state owned exploration and production oil company since the legal regulations made in 1983 and some other more recent changes.