Subsea7 secures offshore contract up to $1.25bn with TP-OTC in the Black Sea

Subsea7 was selected to lead phase 3 of the Sakarya gas field, a strategic contract for Türkiye’s energy supply valued between $750mn and $1.25bn.

Share:

Comprehensive energy news coverage, updated nonstop

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

7-Day Pass

Up to 50 articles accessible for 7 days, with no automatic renewal

3 €/week*

FREE ACCOUNT

3 articles/month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 30,000 articles • 150+ analyses per week

Subsea 7 S.A. announced it has been awarded a major contract by Turkish Petroleum Offshore Technology Center (TP-OTC) for the development of phase 3 of the Sakarya gas field, located in the Black Sea off the Turkish coast. The contract covers engineering, procurement, construction and installation of key subsea infrastructure, including umbilicals, risers and flowlines (SURF – Subsea Umbilicals, Risers and Flowlines).

The contract is classified by Subsea7 as “major,” with a value between $750mn and $1.25bn. Project management and engineering will begin immediately from Subsea7’s Istanbul office, further strengthening the group’s local operational capacity in the region.

Strengthening Subsea7’s operations in Türkiye

This contract extends Subsea7’s involvement in Türkiye’s offshore energy development. The Sakarya field represents the country’s largest deepwater gas project and is a cornerstone of its national energy security strategy. Subsea7 had already contributed to earlier phases of the development, consolidating its role in the regional value chain.

David Bertin, Senior Vice President of Subsea7’s Global Projects Centre East, said the contract “reinforces our relationship with TP-OTC” and confirms the company’s ability to deliver “complex offshore projects safely and reliably.”

A project supported by local teams

Execution of the contract will rely heavily on local resources, according to Hulya Ozgur, Subsea7 Türkiye Business Unit Director. She stated that the new award “reflects the capability of our Türkiye team” to deliver efficient offshore solutions, while highlighting the group’s commitment to local content development.

The Sakarya gas field, located about 175 kilometres offshore, is operated by Turkish Petroleum Corporation (TPAO), the parent company of TP-OTC. It is considered a strategic project to reduce the country’s dependence on energy imports.

Tailwater Capital secures $600mn in debt and $500mn in equity to recapitalise Producers Midstream II and support infrastructure development in the southern United States.
An economic study reveals that Germany’s gas storage levels could prevent up to €25 billion in economic losses during a winter supply shock.
New Fortress Energy has initiated the initial ignition of its 624 MW CELBA 2 power plant in Brazil, starting the commissioning phase ahead of commercial operations expected later this year.
Talen Energy launches $1.2bn debt financing and expands credit facilities to support strategic acquisitions of two combined-cycle natural gas power plants.
The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.
Driven by rising electricity demand and grid flexibility needs, natural gas power generation is expected to grow at an annual rate of 4.8% through 2030.
Talen Energy secures $1.2bn term financing and increases two credit facilities to support the acquisition of two natural gas power plants with a combined capacity of 2,881 MW.
Tenaz Energy finalised the purchase of stakes in the GEMS project between Dutch and German waters, aiming to boost production to 7,000 boe/d by 2026.
Sembcorp Salalah Power & Water Company has obtained a new 10-year Power and Water Purchase Agreement from Nama Power and Water Procurement Company, ensuring operational continuity until 2037.
Eni North Africa restarts drilling operations on well C1-16/4 off the Libyan coast, suspended since 2020, aiming to complete exploration near the Bahr Es Salam gas field.
GOIL is investing $50mn to expand its LPG storage capacity in response to sustained demand growth and to improve national supply security.
QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
An analysis by Wood Mackenzie shows that expanding UK oil and gas production would reduce costs and emissions while remaining within international climate targets.
Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.
The Japanese company has completed the first phase of a tender for five annual cargoes of liquefied natural gas over seven years starting in April 2027, amid a gradual contractual renewal process.
Baker Hughes has secured a contract from Bechtel to provide gas turbines and compressors for the second phase of Sempra Infrastructure’s LNG export project in Texas.
Targa Resources will build a 500,000 barrels-per-day pipeline in the Permian Basin to connect its assets to Mont Belvieu, strengthening its logistics network with commissioning scheduled for the third quarter of 2027.
Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.
Chevron has appointed Bank of America to manage the sale of pipeline infrastructure in the Denver-Julesburg basin, targeting a valuation of over $2 billion, according to sources familiar with the matter.
Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.

All the latest energy news, all the time

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

7 DAY PASS

Up to 50 items can be consulted for 7 days,
without automatic renewal

3€/week*

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.