Subsea 7, a subsea engineering, construction and services company, has been awarded a substantial contract, offshore Egypt, by Pharaonic Petroleum Company to be executed at water depths of over 900 meters in the Atoll field.
Subsea 7 defines a substantial contract as being between $150 million and $300 million. Pharaonic Petroleum Company is a joint venture between BP Egypt and its partners in the Ras El Barr (REB) concession.
BP in June made a final investment decision for the development of its Atoll discovery in Egypt. The project, which is an early production scheme, will bring up to 300 million cubic feet a day (mmscfd) gross of gas to the Egyptian domestic gas market starting in the first half of 2018.
Subsea 7 said on Thursday that the contract scope includes the engineering, procurement, construction and installation of more than 40 kilometers of rigid pipelines and associated structures for the new Atoll field, tying into the existing Taurt field at a water depth of 100 meters. A 105 kilometer umbilical will also be installed linking the Atoll field to shore.
The company added that engineering and procurement services have already started. Offshore campaigns will take place in the second half of 2017 and the early months of 2018, using the Subsea 7 vessels Seven Borealis, Seven Eagle, and Seven Arctic.
Subsea 7’s Region Vice President for Africa, Gilles Lafaye, said: “We are delighted to strengthen our presence in Egypt. This substantial contract award recognizes our technical expertise and track record of strong execution for Pharaonic Petroleum Company.”