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Subsea7 - News - March 3, 2005

Australian Success for Subsea 7 IRT

The Integrated Remote Technologies (IRT) division of global contractor, Subsea 7, today announced a contract award from Woodside for the provision of Remotely Operated Vehicle (ROV) services and personnel. The contract will comprise all Woodside projects for the next 12 months and is valued in the region of US$750,000.

The work was awarded as a result of a successful choke change-out in the Echo Yodel field, Australia, for Woodside, earlier this month. At the start of the year it was determined that the choke, which was installed on the Yodel 4 wellhead four years ago, had failed and needed to be replaced due to a number of unexplained anomalies. The project utilised Woodside’s heave compensated crane for the choke running and retrieval which was overseen by Subsea 7 personnel.

Operations for the choke change-out project included the mobilisation of all equipment and personnel, management of operations onboard the Farstad owned DP vessel ‘Lady Christine’, ROV operations using the Cobra 07 workclass system with Tether Management System (TMS), and ultimately demobilisation.

Vice President for Subsea 7 IRT, Ian Cobban commented: We are delighted to be of service to Woodside and look forward to continuing our good relationship with them after demonstrating our capabilities on the Echo Yodel field. Over 120 operational hours went into the project, which was completed on time, within budget and without incident or injury.

Ends

###

For more information, contact:

Lyndsay Cruickshank on +44 1224 344606
Pat Stephen on +44 1224 344508 or +44 7712 427608

Notes to editors:

1. Subsea 7 is one of the world’s leading subsea engineering contractors. The company has offshore operations supported out of the UK, Norway, Asia Pacific, Brazil, Gulf of Mexico, West Africa, Middle East and the Caspian and employs 3000 world-wide. Subsea 7 has a fleet of remotely operated vehicles (ROVs), four pipeline construction yards and 14 modern, high specification dynamically positioned ships capable of deepwater reeled and flexible pipelay, deepwater subsea construction and saturation diving. Website: www.subsea7.com

2. Farstad Shipping ASA is a public Norwegian company operating supply-vessels. The company's head office is in Aalesund and the shares are listed on the Oslo Stock Exchange.

The company's fleet of vessels consist of AHTS (anchor handling tug supply vessel) and PSV (platform supply vessel) and is supporting offshore rig activities and other offshore related activities in different regions.

Presently the company's vessels are working in the North Sea, in Brazilian water, in West Africa, in Australian water and offshore Vietnam, Malaysia and the Phillipines.

The fleet consists of 47 vessels. In addition three vessels are under construction for delivery within 2005.
Website: http://www.farstad.no

3. Woodside is Australia's largest publicly listed independent oil and gas exploration and production company and is one of the nation's most successful explorers, developers and producers of hydrocarbons.
The company, which celebrated its 50th anniversary in 2004, is listed on the Australian Stock Exchange (ASX: WPL). It employs about 2100 people and has its headquarters in Perth, Western Australia.
Woodside's core areas of focus are Australia, the United States and Africa.
Website: http://www.woodside.com.au

4. DP is an acronym for Dynamically Positioned.



 


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