
Offshore field development. (Source: Shutterstock)
Turkish Petroleum (TPAO) has awarded a consortium of Subsea7, Subsea Integration Alliance, OnseSubsea, SLB and Saipem with a major contract for the second phase of their Sakarya field development offshore Turkey.
Subsea7 defines a major contract as one where Subsea7’s share of revenue is over USD$750 million.
Phase 1 of the project involved the production of natural gas by using the subsea production system from 10 wells. In Phase 2, up to 30 new wells will be drilled, which will be connected to the subsea production system. A new pipeline will also be installed for transporting the additional gas drawn from Phase 2.
“First gas from Sakarya Phase 1 was delivered just 30 months after discovery,” Franck Louvety, Africa, Middle East & Caspian vice president said. “Subsea7 looks forward to extending this relationship for Phase 2 and continuing our contribution to the development of the energy industry in Türkiye.”
The project scope of the contract, which is for engineering, procurement, construction and installation (EPCI), will cover the subsurface solutions including subsea production systems (SPS), subsea umbilicals and flowlines (SURF). The contract also includes additional FEED studies and options to further extend the scope of work.
The current scope to be executed by Subsea7 comprises the EPCI of approximately 23 miles of infield flowlines, 29 miles of control umbilicals and associated subsea equipment in water depths of around 6,500 ft.
Production from the Sakarya Phase 2 conventional gas development project is expected to begin in 2026 and is forecast to peak in 2032, to approximately 1,040 MMcf/d of natural gas.
TPAO is the 100% owner of the field.
Recommended Reading
US Emergency Oil Reserves Fall to Lowest Level in 40 Years
2023-04-17 - U.S. Strategic Petroleum Reserve feel by by nearly 1.6 MMbbl the week of April 10, Department of Energy data shows.
What's Affecting Oil Prices This Week? (April 24, 2023)
2023-04-24 - The price of Brent crude ended the week at $81.58 and the price of WTI ended the week at $77.87.
What's Affecting Oil Prices This Week? (April 3, 2023)
2023-04-03 - On April 2, OPEC+ announced production cuts of 1.16 MMbbl/d beginning in May, in line with last week’s assessment that it would take unexpected good news like a production cut from OPEC+ to push the price of Brent above $80 and WTI above $75.
Iraq's Ambition to Match Saudi Oil Output is Out of Reach
2023-03-27 - With political infighting costing Iraq the ability to quickly capitalize on growing output and the energy transition gathering pace, the new energy minister's efforts are likely to be too little, too late to cash in on substantial oil output.
US Warns Companies Over Russian Oil Price Cap Evasion
2023-04-17 - The U.S. Treasury said it is aware of reports that a pipeline and other crude oils exported via Pacific ports may be trading above the $60 price cap imposed on Russia by Western countries and that U.S. entities may have unknowingly provided services for those trades.