Subsea7 has secured a contract by the operator ConocoPhillips Skandinavia for a front-end engineering and design (FEED) study for the Previously Produced Fields (PPF) development project, offshore Norway.
The project is granted under a new framework agreement between ConocoPhillips and Subsea7.
The work is set to begin immediately, and the FEED study will finalize the technical definition of the proposed subsea development.
If the development project passes final investment decision and is approved by the authorities, the operator can exercise an option to a large award of the subsea structures, umbilicals, risers and flowlines (SURF) scope under the framework agreement to Subsea7.
The contract could be valued up to $500 million.
Offshore installation activities associated with this contract would be scheduled for 2026 to 2029.
The Previously Produced Fields are located in the Greater Ekofisk Area, approximately 290 kilometers southwest of Stavanger, Norway. The PPF development will be connected to the existing Ekofisk Complex.
“We are delighted to have signed a Framework Agreement with ConocoPhillips and have been awarded this initial FEED contract. The study will enable Subsea7 to engage early in the field development process, optimizing design solutions and contributing to the final investment decision. We look forward to working closely with ConocoPhillips to unlock further value in the Greater Ekofisk Area,” said Erik Femsteinevik, Vice President for Subsea 7 Norway.