Chevron awards Subsea 7 $440MM Gorgon contract

Source: Subsea 7

Subsea 7 S.A. (Oslo Børs:SUBC) has been awarded a contract valued at approximately $440 million from Chevron (NYSE:CVXfor the massive Gorgon Project offshore Western Australia.

The work scope includes installation and tie-in of heavy lift structures in the Gorgon and Jansz fields, respectively 65 kilometers and 130 kilometers from Barrow Island, off the northwest coast of Western Australia, in water depths of up to 1,350 meters. The project scope includes engineering, spools fabrication, transportation, installation and pre-commissioning of 20 subsea structures and foundations; 15 heavy spools; 48 tie-in spools; 39 electrical and 18 hydraulic flying leads; and five infield umbilicals and two associated distribution units.

Project management and engineering will commence immediately from Subsea 7’s office in Perth, Australia, with offshore operations scheduled to commence in 2013 using Sapura 3000 and other construction vessels from our fleet.

The Gorgon Project is one of the world's largest natural gas projects and the largest single-resource project in Australia's history. It is operated by Chevron and is a joint venture of the Australian subsidiaries of Chevron (approximately 47%), ExxonMobil (25%) and Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and Chubu Electric Power (0.417%).

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