BAKU, Azerbaijan, August 28. Subsea7, an international company specializing in subsea engineering and offshore projects, has signed a contract with Turkish Petroleum Offshore Technology Center (TP-OTC) to implement the third phase of the largest Sakarya gas project in the Black Sea off the coast of Türkiye, Trend reports.
Under the terms of the agreement, the company will perform engineering, procurement, construction, and installation (EPCI) work on subsea systems, including umbilicals, risers, and pipelines (SURF). Project management and engineering work will begin soon and will be carried out from the company's office in Istanbul.
Although the exact amount of the contract has not been disclosed, Subsea7 estimates it to be “large,” i.e., in the range of $750 million to $1.25 billion.
The third phase of the project involves the installation of a new floating gas processing facility and the development of a 32-well subsea system, which will increase production to 40 million cubic meters of gas per day.
The Senior Vice President of Subsea7 Global Projects Centre East, David Bertin, noted that the new contract confirms the company's experience in implementing complex integrated offshore projects and underscores its commitment to supporting Türkiye's strategic energy goals.
Meanwhile, the director of Subsea7 Türkiye Business Unit, Hulya Ozgur, added that continuing cooperation with TP-OTC reflects the company's desire to develop local content and provide safe and efficient offshore solutions.
Subsea7 previously served as the main contractor for the first two phases of the Sakarya field development.