Subsea 7 awarded contract Offshore Egypt

expat network

Subsea 7 awarded contract Offshore Egypt

Subsea 7 S.A. (Oslo Børs: SUBC ADR: SUBCY) announced the award of a sizeable contract to Subsea 7 by Pharaonic Petroleum Company S.A.E. for the development of the East Nile Delta Phase 3 Project (END-3). This award was the result of a competitive tender process.

The project scope includes installation engineering, procurement and fabrication of rigid spools, and installation of pipeline, umbilical and subsea structures to develop the resources from two wells including 8 kilometres of umbilicals and pipeline. The field development will be at depths of approximately 80 to 90 metres. Fabrication of spools will be carried out at Petrojet’s yard in Egypt. Offshore installation is scheduled to commence in the fourth quarter of 2015 using the Subsea 7 vessels Rockwater 2 and Seven Borealis.

Gilles Lafaye, Vice President Africa, said: “Subsea 7 is pleased to once again provide services for the Taurt and Ha’py field developments. This important award recognises our technical expertise and strong track record of good execution for Pharaonic Petroleum Company and reinforces our presence in Egypt.”

Subsea 7 S.A.

Subsea 7 S.A. is a leading global contractor in seabed- to-surface engineering, construction and services to the offshore energy industry. We provide technical solutions to enable the delivery of complex projects in all water depths and challenging environments.

For more information, please visit: www.subsea7.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.