Australia's Woodside Petroleum Ltd. has in recent months awarded three contracts to Subsea 7 for offshore oil and gas engineering work that may eventually exceed $750 million in value, the Oslo-listed company said on March 6.
The initial contracts comprise studies for the first phase of Senegal's SNE field development as well as Australia's Scarborough Project and Julimar Development Phase 2, and could eventually become full-scale developments, Subsea 7 said.
"Assuming final investment decisions (FID) is reached on all three projects, they would in aggregate be equivalent to a major project award to Subsea 7," the company said, adding that it defines a major contract as being over $750 million.
"The awarded work is for engineering activities required to finalise the technical definition of the proposed developments prior to Woodside and its joint venture partners making FID, which Woodside is targeting for between mid-2019 and early 2020 depending on the project," Subsea 7 said in a statement.
Recommended Reading
Emissions Management: The New ‘E’ for E&P
2023-01-24 - Emissions management strategies are having a greater influence on E&P profitability, according to Enverus.
UAE's ADNOC Allocates $15 Billion to Decarbonization Projects
2023-01-05 - ADNOC aims to reduce its carbon intensity by 25% and grow its carbon capture capacity to 5 million tonnes by 2030.
Japan's Eneos Opens Green Hydrogen Test Plant in Australia
2023-02-01 - Japan's Eneos Corp. will have the capacity to produce 20 km of green hydrogen a day using Direct MCH technology.
French Prosecutor Investigates Greenwashing Allegations Against TotalEnergies
2023-01-27 - The investigation into TotalEnergies was opened in December 2021, on a complaint filed in 2020, but was only confirmed on Jan. 26.
Wood Mackenzie’s Five Reasons to be Cheerful Amid Energy Insecurity
2022-12-13 - Wood Mackenzie’s “The Silver Linings Playbook” offers views from across the energy and natural resources sectors on five key developments that, despite the setbacks of the past year, are laying the foundations for the delivery of more reliable, affordable and sustainable energy.