Integrated subsea contracts took centre stage in 2019 and had a breakout year with 20 such contracts signed, representing a record-high of over 150 subsea trees awarded under such deals. Integrated contracts – where service providers partner with each other to provide the full subsea scope, covering both subsea production systems (SPS) and subsea umbilicals, risers, and flowlines (SURF) – have become increasingly popular in the last four years since they were introduced.
Thus far, three main players have established themselves in this market and have secured major contracts: TechnipFMC, Subsea Integration Alliance (OneSubsea and Subsea 7), and Baker Hughes together with McDermott.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/24022020/2019-breakthrough-year-for-subsea-contracts-says-rystad-energy/
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