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London-based offshore engineering firm Subsea7 has finalized an agreement with Türkiye's state-run energy company, Turkish Petroleum (TPAO), for the third phase of the Sakarya Gas Field development in the Black Sea, valued at between $750 million and $1.25 billion, the company announced on Thursday.
The contract covers engineering, procurement, construction, and installation (EPCI) of subsea umbilicals, risers, and flowlines, according to the company.
Discovered in 2020 as Türkiye’s largest-ever gas find, the Sakarya field began production in 2023 through a 170-kilometer (105.6 miles) subsea pipeline.
Output has so far reached 4 billion cubic meters, meeting the needs of about 4 million households.
The current capacity of 9.5 million cubic meters per day is set to double with the upcoming Osman Gazi floating production platform, and a second platform planned for 2028 aims to raise daily production to 40 million cubic meters.
Subsea7 executives said the award builds on their track record in the country and strengthens ties with TPAO.
"This award builds on our track record in Türkiye and further reinforces our relationship with the Turkish Petroleum Offshore Technology Center (TP-OTC), demonstrating Subsea7’s expertise in delivering complex, integrated offshore projects safely and reliably," said David Bertin, Senior Vice President for Subsea7 Global Projects Centre East.
Hulya Ozgur, Subsea7’s Türkiye Business Unit Director, emphasized that the contract reflects both the capabilities of the local team and the company’s support for Türkiye’s energy independence goals.
The agreement marks the second deal between Subsea7 and TPAO in 2025. In January, the London-based company announced an agreement that included engineering services from its Istanbul and Aberdeen offices, equipment supply, and personnel support for TPAO’s construction vessel "Mukavemet."
That contract, categorized as "substantial" at between $50 million and $150 million, covers work planned for 2025 and 2026.
Listed on the Oslo Stock Exchange in Norway, Subsea7 operates in more than 30 countries and has delivered over 1,000 projects worldwide.
The company operates a fleet of 30 research vessels and employs approximately 15,000 people, with an annual revenue of $6.8 billion as of 2024.
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