Subsea 7 has been awarded a sizeable contract by Shell on Oct. 4 for the Pierce depressurization project, located approximately 160 miles offshore, east of Aberdeen.
The contract scope involves the engineering, procurement, construction, transportation and installation of a 30 km gas export pipeline, a gas export riser and associated subsea infrastructure, for tie-ins at the Haewene Brim FPSO.
Project management and detailed engineering has commenced at Subsea 7’s office in Aberdeen, with offshore activities scheduled for 2020 and 2021.
“This award recognises our extensive knowledge of Shell’s North Sea developments, gained over almost 30 years of working closely together to deliver safe and cost-effective construction, inspection, repair and maintenance operations across Shell’s European offshore fields and facilities,” Jonathan Tame, vice president U.K. & Canada, Subsea 7, said.
Subsea 7 defines a sizeable contract as being between $50 million and $150 million.
Energy secretary acknowledges slowing of Chinese energy market.
Oil demand in the first quarter of 2020 is expected to fall compared with a year earlier, the IEA said, noting it would be "the first quarterly decrease in more than a decade."
NGL prices follow as China’s troubles impact global economy.