Venture Award Subsea 7 Goosander Tie Back

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21 October 2005

Global engineering and construction company Subsea 7 today announced the award of their first major EPIC (engineering, procurement, installation and construction) contract under the recently announced partnership agreement with Venture Production plc.

The contract, valued over US$ 50M, is for the installation of a tie-back from the Goosander production well to the Kittiwake platform. Two bundles, measuring 4.9km and 7.4km in length and consisting of a 30 carrier pipe with an 8 flowline, 6 water injection line and a 4 gas lift line will be installed in water depths of around 85 metres. The Goosander bundles will be engineered to accommodate future production and water injection wells. Engineering studies will also take place into re-using the bundles for future tie-backs.

Offshore operations are scheduled for next summer with the launch of the bundles due to take place from Subsea 7's Wick spoolbase in Caithness, Scotland. A number of vessels from the Subsea 7 fleet will be utilized for the pre-route survey and installation phase of the contract.

Subsea 7's UK Vice President, Steve Wisely said, This is our first EPIC contract working with Venture since the announcement in June of our Partnership Agreement, and we are excited about providing our unique bundle technology for their Goosander development. Our bundle site at Wick has been continuously busy during 2005 and this additional contract is great news for the local area.

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