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Subsea 7 wins more Saudi work

UK-based contractor picks up fresh award on Marjan field project as CEO set to step down

Subsea 7 has picked up a further award with Saudi Aramco for work on the Marjan field project off Saudi Arabia as the UK-based contractor announced the impending exit of its chief executive.

The Oslo-listed company has been awarded a “large” engineering, procurement, construction and installation contract, worth between $300 million and $500 million, in a consortium with L&T Hydrocarbon Engineering, a subsidiary of India’s Larsen & Toubro.

The workscope covers new tie-in platforms, production deck manifolds, about 217 kilometres of rigid pipelines, 145 kilometres of power cables, and a fibre-optic cable to be installed at the field under the so-called Marjan Increment Projects.

Offshore installation work is due to be carried out in 2021 and 2022 at the field in water depths of between 45 and 52 metres.

The latest award follows on from confirmation last week that Aberdeen-based Subsea 7 had secured three contracts from the Saudi state-owned oil company mainly for platform jackets on the Marjan, Zuluf, Safaniya and Riban fields.

Meanwhile, Subsea 7 said chief executive Jean Cahuzac will retire from the position at the end of this year and will be replaced by chief operating officer John Evans.

Cahuzac, who has served in the role since 2008 having previously worked for Transocean and Schlumberger, will continue as a non-executive director at the company.

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