Luxembourg - 23 May 2016 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2), for the engineering, procurement, construction and installation (EPCI) of the Beatrice wind farm turbine foundations and array cables, offshore Scotland, UK.
Located in the Outer Moray Firth, the Beatrice wind turbines will generate 588 Megawatts of power once the wind farm becomes fully operational in 2019.
Subsea 7, in alliance with Seaway Heavy Lifting(3), will project manage, design, engineer, fabricate and install EPCI jacket foundations and array cables for 84 wind turbines, and perform the transportation and installation of the offshore transmission modules.
Project management and engineering has already started at Seaway Heavy Lifting's offices in Glasgow, Scotland, and Zoetermeer, the Netherlands, and at Subsea 7's office in Aberdeen, Scotland. Offshore installation activities will be executed in 2017 and 2018 using Seaway Heavy Lifting's heavy-lift vessels, Stanislav Yudin and Oleg Strashnov. Both these vessels provide significant lift and installation capabilities ideally suited for the challenges of installing wind farm foundations.
Jean Cahuzac, Subsea 7 Chief Executive Officer, said: "This offshore wind farm project is our largest North Sea award to date. Subsea 7 and Seaway Heavy Lifting have a strong reputation in their respective areas of expertise. This contract recognises both companies' capability to execute contracts safely, on time and within cost targets and is another major step forward in establishing Seaway Heavy Lifting as a leading EPCI contractor in the offshore renewables market."
(1) Subsea 7 defines a major contract as being over USD 750 million and this contract is over USD 1.0 billion in value.
(2) Beatrice Offshore Windfarm Limited (BOWL) is a joint venture partnership between SSE (40%), Copenhagen Infrastructure Partners (35%) and SDIC Power (25%).
(3) Subsea 7 is a 50% shareholder in Seaway Heavy Lifting.