Subsea 7 to carry out Holstein Deep installation

Abstract

Subsea 7 has booked its first work with new client Freeport-McMoRan for two deepwater projects in the US Gulf of Mexico. Offshore construction vessel Seven Seas will be deployed on two jobs for Freeport-McMoRan at the Holstein Deep and KOQV fields in the fourth quarter of next year, where it will carry out installation of flexible pipelines and umbilicals on behalf of Freeport. Engineering for both jobs, which have a contract value in excess of US $50 million, will be carried out at Subsea 7's offices in Houston. In the Gulf of Mexico Freeport-McMoRan Oil and Gas has identified up to 6.6 Bboe total resource potential and 171 MMboe of proved reserves.