Subsea Integration Alliance Secures Major Contract for Angola Project

ExxonMobil has awarded a significant engineering, procurement, construction, and installation (EPCI) contract to the Subsea Integration Alliance (SIA) for a subsea tie-back associated with the Redevelopment 2.0 Likembe Project in Block 15, offshore Angola. The contract, valued between $150 million and $300 million, was announced by SIA partner Subsea7 in a news release on Thursday.

Under the agreement, Subsea7 will be responsible for project management and engineering, while fellow SIA partner SLB OneSubsea will oversee the umbilical work. This development follows ExxonMobil's discovery of oil at its Likembe-01 well in Block 15 in 2024. Beyond Block 15, the US supermajor holds interests in two other producing deepwater blocks in Angola (Blocks 17 and 32), where its net production averaged 100,000 barrels of oil per day in 2024.

The announcement came shortly after Subsea7 released its first-quarter earnings on Thursday, which represent the offshore contractor's last quarterly results before its planned merger with Saipem. The Oslo-listed company reported net income of $97.3 million and revenue of $1.79 billion, both showing year-over-year increases.