Subsea7 has announced the signing of a strategic collaboration agreement between PETRONAS Suriname, a subsidiary of PETRONAS and Subsea Integration Alliance (SIA), which comprises Subsea7 and SLB OneSubsea. The agreement creates a long-term framework for close collaboration on field development projects in Suriname.
Through early engagement and integrated execution, the collaboration aims to simplify complex procurement processes, reduce total development costs and enhance delivery certainty. The optimisation of project timelines, combined with a reduction in execution risk, will enhance project economics and unlock opportunities across a portfolio of prospects in Suriname.
Under the framework, SIA will provide pre-FEED, FEED and engineering, procurement, construction, installation and commissioning (EPCIC) solutions for multiple prospective projects. The scope includes subsea umbilical, riser and flowlines (SURF) from Subsea7, and subsea production systems (SPS) from SLB OneSubsea.
Craig Broussard, Senior Vice President for Subsea7, said: 'We are proud to be working with PETRONAS Suriname through this strategic agreement to establish strong, sustainable foundations in Suriname that will support growth in this emerging frontier basin. The agreement builds on our track record of collaborating with our clients to drive value creation through the delivery of optimised development solutions. We are excited to see the positive impact this work will have in the region.'
Olivier Blaringhem, CEO of Subsea Integration Alliance, said: 'This is an exciting and important step for the development of the significant opportunities of PETRONAS Suriname in Suriname’s frontier basins. The combined deepwater expertise and collaborative, agile approach of Subsea7 and SLB OneSubsea, will maximize value as the developments secure vital energy resources in the region.'
Source: Subsea7
