Subsea7 Signs New Agreement With ConocoPhillips and Advances Project in Norway

Written by Carla Teles

Published on 19/05/2025 at 13:51

Updated on 19/05/2025 at 14:12

Subsea7 assegura acordo com ConocoPhillips na Noruega para estudo FEED, visando contrato SURF de até US$500M. Veja como a Subsea7 avança em Ekofisk!

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Company Will Ensure Engineering Study and Front-End Design (FEED) for Development of Previously Produced Fields, with Potential for a Subsequent SURF Contract in the Greater Ekofisk Area.

Subsea7 announced the acquisition of a significant contract with energy giant ConocoPhillips. The agreement aims at an engineering study and front-end design (FEED) for the development project of Previously Produced Fields (PPF) in Norwegian waters. This milestone represents an important advancement for Subsea7 in the Norwegian market.

Details of the FEED Contract for Development in Ekofisk

Subsea7 secured a crucial contract with ConocoPhillips. This contract focuses on an engineering study and front-end design (FEED). The study is for the development project of Previously Produced Fields (PPF). These operations will take place in Norwegian waters. As part of the agreement with the operator ConocoPhillips Scandinavia, Subsea7 will deliver the FEED study. This study will finalize the technical definition of the proposed subsea development. Work will begin immediately at Subsea7’s office in Norway.

The Previously Produced Fields (PPF) are located in the Greater Ekofisk Area. This area is approximately 290 kilometers southwest of Stavanger. The project will be connected to the existing Ekofisk Complex.

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Potential Million-Dollar SURF Contract for Subsea7

The project is awarded under a new framework agreement between the partners. If the development is approved in the final investment decision (FID) and receives the authorities’ approval, there is a significant opportunity. The operator may exercise the option to award a scope of large subsea structures, umbilicals, risers, and flowlines (SURF) to Subsea7. This scope has an estimated value between US$ 300 million and US$ 500 million.

Subsea7’s Perspective on the Strategic Partnership

Erik Femsteinevik, Vice President of Subsea7 Norway, expressed satisfaction. “We are very pleased to have signed a Framework Agreement with ConocoPhillips,” he said. He also celebrated the achievement of the initial FEED contract. Femsteinevik highlighted that the study allows Subsea7 early involvement. This optimizes design solutions and contributes to the final investment decision. “We look forward to working closely with ConocoPhillips to generate even more value in the Greater Ekofisk Area,” he concluded.

The Relevance of the Greater Ekofisk Area for the Sector

The Greater Ekofisk Area is of great importance. It consists of three producing fields: Ekofisk, Eldfisk, and Embla. The production from these fields is transported by the Ekofisk Complex. The destinations are the receiving terminals in Emden, Germany (gas) and Teesside, UK (oil). This new project by Subsea7 reinforces activity in the region.

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Subsea7 Signs New Agreement With ConocoPhillips and Advances Project in Norway

Company Will Ensure Engineering Study and Front-End Design (FEED) for Development of Previously Produced Fields, with Potential for a Subsequent SURF Contract in the Greater Ekofisk Area.

Details of the FEED Contract for Development in Ekofisk

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Subsea7’s Perspective on the Strategic Partnership

The Relevance of the Greater Ekofisk Area for the Sector

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Subsea7 Signs New Agreement With ConocoPhillips and Advances Project in Norway

Company Will Ensure Engineering Study and Front-End Design (FEED) for Development of Previously Produced Fields, with Potential for a Subsequent SURF Contract in the Greater Ekofisk Area.

Details of the FEED Contract for Development in Ekofisk

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Subsea7’s Perspective on the Strategic Partnership

The Relevance of the Greater Ekofisk Area for the Sector

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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

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