Subsea 7 has been awarded a sizable contract from Talos Energy for work on the Sunspear development in Green Canyon Block 78 in the Gulf of Mexico, the subsea services company announced in an April 12 press release.
The project involves the subsea tie back of a Sunspear production well to the Prince platform 12 km to the north. Subsea7 will install the flowline and related subsea equipment at water depths of 500 m.
Subsea7 defines a sizeable contract as being between $50 million and $150 million. Offshore work on the project is scheduled to begin later this year.
Recommended Reading
US Gulf Coast Heavy Crude Oil Prices Firm as Supplies Tighten
2024-04-10 - Pushing up heavy crude prices are falling oil exports from Mexico, the potential for resumption of sanctions on Venezuelan crude, the imminent startup of a Canadian pipeline and continued output cuts by OPEC+.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
APA Corp. Latest E&P to Bow to Weak NatGas Prices, Curtail Volumes
2024-05-07 - APA Corp. plans to curtail gas and NGL production in the U.S. owing to weak Waha prices but remains confident it can deliver in the Permian Basin, CEO John Christmann said during a quarterly webcast with analysts.
Kissler: Mideast Tension Elevates Crude Prices—But for How Long?
2024-05-09 - Producers should be aggressive in locking in desirable crude oil prices on an abnormal market strength.
US Drillers Cut Oil, Gas Rigs for Third Week in a Row
2024-05-10 - Baker Hughes said oil rigs fell three to 496 this week, their lowest since November, while gas rigs rose one to 103.