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
Crescent Energy Closes $905MM Acquisition in Central Eagle Ford
2025-01-31 - Crescent Energy’s cash-and-stock acquisition of Carnelian Energy Capital Management-backed Ridgemar Energy includes potential contingency payments of up to $170 million through 2027.
On The Market This Week (Jan. 27, 2025)
2025-01-31 - is a roundup of marketed oil and gas leaseholds in Appalachia and the Central Basin from select E&Ps.
Viper Buys $330MM Midland Interests in Shadow of $4.5B Dropdown
2025-01-31 - Viper Energy said that in addition to a $4.45 billion dropdown by Diamondback Energy, the company would also purchase royalty acreage in Howard County, Texas, for $330 million.
ONEOK Completes EnLink Midstream Takeover for $4.3B
2025-01-31 - ONEOK had agreed to acquire the remaining stake in EnLink in November 2024 for $4.3 billion after having acquired the controlling interest a month prior.
Ovintiv Closes Montney Acquisition, Completing $4.3B in M&A
2025-01-31 - Ovintiv closed its $2.3 billion acquisition of Paramount Resource’s Montney Shale assets on Jan. 31 after divesting Unita Basin assets for $2 billion last week.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.