Subsea 7 has acquired a contract offshore Egypt from Pharaonic Petroleum Company to be executed in water depths of over 900 metres in the Atoll field.
The contract scope includes the engineering, procurement, construction and installation of more than 40 kilometres of rigid pipelines and associated structures for the new Atoll field, tying into the existing Taurt field at a water depth of 100 metres. A 105 kilometre umbilical will also be installed linking the Atoll field to shore.
Engineering and procurement services have already commenced. Offshore campaigns will take place in the second half of 2017 and the early months of 2018, using the Subsea 7 vessels Seven Borealis, Seven Eagle, and Seven Arctic.
The contract is said to be worth between between USD 150 million and USD 300 million.
