Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial1 contract by Aramco under a long-term agreement.
The contract scope includes the decommissioning of existing subsea facilities as well as engineering, procurement, construction, and installation of a new pipeline and subsea equipment at the Abu Safah field, located offshore Saudi Arabia. Engineering activities will begin immediately, with offshore operations scheduled for 2026. The project will be managed from Subsea7’s office in Al Khobar, Saudi Arabia, with support from offices in Dubai and Singapore.
David Bertin, Senior Vice President for Subsea7 Global Projects Centre East, said: “This award builds on Subsea7’s decade-long relationship with Aramco and track record of reliable project execution in the Kingdom of Saudi Arabia. We look forward to working together to deliver this project safely and efficiently, and we aim to support our client’s offshore development goals.”
Subsea7 defines a substantial contract as being between $150 million and $300 million
