Subsea7 Secures Work with Talos Energy in Gulf of Mexico
April 12, 2024
Offshore services firm Subsea7 has secured a ‘sizeable’ contract with U.S. oil and gas company Talos Energy for its Sunspear development in the Gulf of Mexico.
The project involves the subsea tie back of one production well at Sunspear to the Prince platform, 12 kilometers to the north.
Subsea7 will install the flowline and related subsea equipment at 500 meter water depths.
Though not specifically stated by Subsea7, the contract is valued between $50 million and $150 million.
Subsea7’s Houston office will oversee project management and installation engineering, with offshore work scheduled to begin later in 2024.
“This award further strengthens our strategic partnership with Talos Energy, enabling early-stage collaboration for faster, more predictable project delivery,” Craig Broussard, Vice President for Subsea7 Gulf of Mexico.
To remind, Talos Energy confirmed oil and gas discovery in the Sunspear development, located in Green Canyon Block 78, in August 2023.
At the time, Talos's preliminary post-drill analysis indicated approximately 260 feet of gross true vertical thickness of oil pay (177 feet net across two targets), including 149 feet of net oil pay in the main target in line with pre-drill expectations.
The project will flow to the recently acquired Prince platform, with first oil expected in 18 to 24 months the company said at the time of the discovery.
Working interest partners are Talos 48.0%, an entity managed by Ridgewood Energy Corporation 47.5%, and Houston Energy 4.5%
