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Subsea7 on Wednesday secured a contract valued between $150 million and $300 million from ExxonMobil for subsea installation work tied to a deepwater redevelopment project offshore Angola, strengthening the contractor’s West African backlog ahead of its planned merger with Saipem.
The engineering, procurement, construction and installation contract covers a subsea tie back for the Redevelopment 2.0 Likembe Project in Block 15, located approximately 145 kilometres off Angola’s northern coast. Block 15 holds 19 discoveries with total recoverable resources of about 3 billion barrels of oil, according to ExxonMobil. The award was made to the Subsea Integration Alliance, a partnership between Subsea7 and SLB OneSubsea.
Work scope spans four countries
Project management and engineering will be led from Subsea7 offices in Paris, Luanda, Lisbon and Sutton. SLB OneSubsea will handle the umbilical scope from its facility in Moss, Norway, with additional engineering support from Houston.
David Bertin, Senior Vice President for Global Projects Centre East at Subsea7, said the project builds on the company’s track record across West Africa, Australia and the United States. He added that the company is committed to supporting local capability development in Angola.
Olivier Blaringhem, Chief Executive Officer of Subsea Integration Alliance, said the award demonstrates how early collaboration through the alliance enables optimised development solutions.
Contract bolsters backlog before Saipem merger
The award adds to Subsea7’s order book at a pivotal moment. The Luxembourg based contractor is awaiting regulatory approvals to complete its merger with Saipem, with closing expected in the second half of 2026. The combined entity, to be renamed Saipem7, would hold a combined backlog of approximately €43 billion and generate revenue of about €21 billion annually.
Subsea7 classifies the Angola award as a “substantial” contract, a designation it applies to deals valued between $150 million and $300 million.
Deepwater investment continues in Angola
Block 15 has been in production since 2003, when the Xicomba field came online. The Likembe tie back signals continued investment by ExxonMobil in incremental production from mature deepwater acreage offshore Angola, a region that remains a key focus for international operators pursuing brownfield development opportunities.
The contract scope includes subsea infrastructure and umbilical systems designed to connect new production capacity to existing facilities in the block.
