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Netherlands,United Kingdom : SUBSEA 7, Seaway Heavy Lifting announce $1.3bn EPCI pact

Publish Date : 26-May-2016

Subsea 7 has lifted the lid on a huge offshore deal it was awarded at the end of last week, that is now said to be worth over $1.3 billion.

The firm and 50%-claimed Seaway Heavy Lifting will roll-out the engineering, procurement construction and installation deal for the Beatrice offshore wind ranch off Scotland.

The pact will see the pair work jointly on the turbine foundations and array cables for 84 wind turbines and also transportation and installation of transmission modules for Beatrice Offshore Windfarm (BOWL).

Subsea 7 said that it had scooped a major deal of amount over $750 million to work on an unnamed offshore project, before announcing that it was the project in the Outer Moray Firth. Implementation of offshore work will occur in 2017 and 2018, with Seaway using its heavy-lift ships Stanislav Yudin and Oleg Strashnov.

Subsea 7 chief executive Jean Cahuzac explained the pact as the firms largest North Sea award to date.

Seaway chief executive Jan Willem van der Graaf said this is the largest deal the Dutch player has been awarded, with former deals typically ranging between $100 million and $300 million.

Seaway is gearing up to award sub-deals for the making of jackets, piles, cables and other elements with awards likely in a month or two.

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