Subsea7 and SLB OneSubsea awarded EPCI contract for bp's Ginger project

Core Insights - Subsea 7 S.A. has been awarded a significant EPCI contract by bp for the Ginger project offshore Trinidad and Tobago, marking a key development under a new global framework agreement between bp and Subsea Integration Alliance partners SLB OneSubsea and Subsea7 [1][2] Group 1: Project Details - The Ginger project involves the supply of a diver-installed tie-in system, a flexible production flowline, and associated infrastructure by Subsea7, while SLB OneSubsea will provide four standardized vertical monobore subsea trees and tubing hangers [3] - The project will also feature the first high-integrity pressure protection system (HIPPS) manifold in the region, enhancing safety, efficiency, and environmental performance [3] - The project is located off the southeast coast of Trinidad at water depths of up to 90 meters [3] Group 2: Strategic Collaboration - The new framework agreement aims to optimize system-level operations through increased transparency and early engagement, establishing a commercial model that aligns incentives for value creation among stakeholders [2] - The collaboration is expected to leverage the combined expertise of bp, Subsea7, and SLB OneSubsea to achieve bp's goal of first gas by 2026 [4] Group 3: Financial Aspects - Subsea7 defines a substantial contract as being valued between $150 million and $300 million [4]