The relationship between Chevron and Subsea7 takes a new strategic step with the award of a multi-million dollar contract for the development of subsea infrastructure in the Eastern Mediterranean. The agreement includes the transportation and installation of approximately 17 kilometers of subsea flowlines and umbilicals, a project that will commence offshore operations during the first quarter of 2028.
A contract valued at between US$150 million and US$300 million
According to Subsea7 guidelines, this contract falls into the category of “substantial” agreements, which implies an estimated valuation between US$150 million and US$300 million. Although exact figures have not been disclosed, the economic value positions this award as one of the most relevant offshore infrastructure developments for the region.
The management and engineering of the contract will be in charge of the office of Subsea7 office in Paris, where preparatory work has already begun.
An alliance with history
This new step strengthens the long-term strategic alliance between Chevron and Subsea7, based on a solid collaboration developed in West Africa, Australia and the United States. The Mediterranean project adds to a series of successful executions that consolidate the mutual trust between the two companies.
This award reinforces our long-term strategic alliance with Chevron, based on our proven track record in West Africa, Australia and the United States. We look forward to continuing our collaboration in the Eastern Mediterranean, focusing on safety, efficiency and technical integrity to deliver reliable and integrated offshore solutions.
David Bertin, senior vice president of Subsea7 Global Projects Centre East.
The Eastern Mediterranean gains energy prominence
The award of this contract is evidence of the growing interest of major players in the energy sector in the Eastern Mediterranean, an area that is attracting high-value investments for its potential in subsea exploration and development.
The collaboration between Chevron and Subsea7 reflects an integrated, technical approach to addressing complex subsea challenges. By combining global expertise with localized engineering, this contract marks a significant advance in the industry for reliable and safeoffshore installations.
Source: Subsea7