Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable(1) contract by Centrica for the Oda field in the Norwegian North Sea.
The Oda oil field (previously called Butch) was discovered in 2011 in the southern part of the Norwegian North Sea, approximately 14 kilometres east of the Ula field. The contract scope comprises Subsea 7's expertise and capabilities in engineering, procurement, construction, installation and commissioning (EPCIC) of subsea umbilicals, risers and flowlines (SURF) including the production pipeline, water injection line, umbilical and related subsea services.
Project management and engineering will commence immediately from Subsea 7's office in Stavanger, Norway, with offshore operations scheduled to commence in 2018.
Phil Simons, Vice President North Sea & Canada, said: "The strategic partnership with Centrica allows the parties to work closely together to optimise the project delivery. This contract award shows that this way of working with our clients provides cost effective and optimised technical solutions, and earlier delivery of projects. We look forward to continuing to work closely with Centrica to successfully deliver the Oda project, with safety and quality at the forefront throughout the execution."
(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million.