Subsea7 says contract value between $150-300m

Subsea7 says contract value between $150-300m

Title: Subsea7 Secures Major Contract for Sakarya Gas Field Development

Subsea7, a leading provider of subsea engineering and construction services, has secured a significant contract for Phase 3 of the Sakarya gas field development in the Black Sea, offshore Türkiye. The contract, valued between $150 million and $300 million, signifies a continuation of the company's strong relationship with Turkish Petroleum Offshore Technology Center (TP-OTC) [1].

The contract, which Subsea7 defines as a major contract, includes engineering, procurement, construction, and installation (EPCI) of key components such as subsea umbilicals, risers, and flowlines. These components are crucial for the reliability of subsea production systems. Engineering activities and project management will begin immediately and will be overseen by Subsea7's office in Istanbul, Türkiye [1].

This contract further demonstrates Subsea7's expertise in delivering complex, integrated offshore projects safely and reliably. The company's focus on local content development and its commitment to supporting regional energy independence are key aspects of this project [1].

Subsea7's successful track record in managing and delivering complicated offshore energy projects efficiently is highlighted by this contract. Phase 3 of the Sakarya gas field development strengthens ties with TP-OTC, leverages prior experience in Türkiye, and underscores the company's commitment to advancing energy infrastructure and supporting the country's energy independence goals.

References:
[1] https://www.tradingview.com/news/zacks:95445654d094b:0-subsea7-wins-major-contract-for-sakarya-gas-field-development/