Subsea 7 Clinches ‘Substantial’ EPCI Contract

Offshore engineering and construction company Subsea 7 said Tuesday it had won a substantial contract with an unnamed client.

Subsea 7 defines a substantial contract as being between USD 150 million and USD 300 million (Subsea 7’s share).

The award, made to a consortium including Subsea 7, comprises engineering, procurement, construction, and installation (EPCI) of offshore facilities, subsea pipelines, and associated infrastructure, the company said.

Subsea 7 said that the contract would be recorded in the backlog of Subsea and Conventional business unit in the first quarter of
2022.

Project management and engineering will start immediately, and offshore activities are scheduled to begin in Q3 2024, the company said.

“No further details are disclosed at this time due to contractual obligations,” Subsea 7 said.