Subsea7 secures contract from LLOG for Buckskin South expansion project [Yahoo! Finance]
ConocoPhillips (COP)
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Source: Yahoo! Finance
The contract, described as “sizeable” by Subsea7, is valued between $50m and $150m. It covers the transportation and installation of a subsea umbilical and a rigid flowline at water depths reaching 2,100 metres (m). The Buckskin field is located about 305km southeast of Houston, Texas, off the shore of Texas, US. Subsea7 plans to commence project management and engineering activities immediately from its office in Houston, Texas. Offshore operations are scheduled for 2026 and 2027. Subsea7 Gulf of Mexico senior vice-president Craig Broussard said: “We are proud to continue working alongside LLOG to deliver greater value from their US developments, building on successes such as the innovative Salamanca project, which recently achieved first oil.” This contract award comes shortly after Harbour Energy has agreed to acquire LLOG Exploration Company for up to $3.2bn. The deal includes $2.7bn in cash and $500 million in Harbour's voting ordinary shares. LLOG holds more than
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