Subsea7 has secured a contract from LLOG Exploration for the Buckskin South expansion project in the US Gulf of Mexico. The contract, valued between $50 million and $150 million, encompasses the transportation and installation of a subsea umbilical and a rigid flowline in water depths reaching up to 2,100 meters. Project management and engineering are set to commence immediately, with offshore operations scheduled to begin in 2026.

Buckskin Field Overview

The Buckskin field, located approximately 305 kilometers off the Texas coast, is LLOG's largest asset and its first deep-water project. It commenced oil production in 2019. Currently, the field produces 10,000 barrels of oil equivalent per day from four wells, which are tied back to the Occidental-operated Lucius platform. Planned new wells are expected to more than double the field's future production.

Corporate Context

This development occurs alongside Harbour Energy's announced $3.2 billion acquisition of LLOG, which is anticipated to close in the first quarter. Following the acquisition, LLOG's leadership, including CEO Philip LeJeune, is expected to remain in place as the company operates as Harbour's US Gulf business unit.