This EPRS project consists of developing a process of repair, including both equipment and contingency procedures, to support the Chevron-operated pipelines and INPEX's Ichthys pipeline off the North and Northwest coasts of Australia. These pipelines are located in various water depths of up to 1,350 metres and are up to 44" in diameter. The contracts comprise design, fabrication and procurement of repair equipment and development of repair methodologies and procedures that will be available during the life of the Chevron and INPEX operated assets.
Project management, engineering and procurement will commence immediately from Subsea 7's office in Perth, Australia, with support from Subsea 7's intervention and autonomous system specialists in Aberdeen. Site integration testing is due to be completed by 2017.
Stephen Steele, Vice President, Life of Field, said: "This award reinforces our position at the forefront of intervention and repair technologies and showcases one of Subsea 7's key capabilities in the area of Life of Field services. We look forward to continuing our relationship with both companies."
The company also announced that it has bought back bonds of $10 million in market deals this week.