Beacon Offshore Energy lets Monument development contract
Beacon Offshore Energy has let a contract to Subsea7 for the Monument development in the US Gulf of Mexico.
The project involves the installation of a high-pressure 27-km subsea tieback to the Shenandoah floating production system in Walker Ridge block 316 at water depths up to 2,000 m, the service provider said in a release Dec. 12.
Subsea7's scope of work includes the engineering, procurement, construction, and installation (EPCI) of subsea equipment, including structures, umbilicals, production risers, and flowlines. Project management and engineering work will start immediately at Subsea7's office in Houston, Tex., with offshore activities expected to begin in 2026.
Monument
Beacon Offshore and its project partners sanctioned the first phase of the Wilcox aged Monument development earlier this year. Initial development includes a two well, 17-mile subsea tieback to the Shenandoah FPS. First production is expected by third-quarter 2026.
Subsea7 values the contract somewhere between $150 million and $300 million.
Monument, in Walker Ridge blocks 271, 272, 3156, and 316, is appraised to hold proved plus probable gross reserves of about 115 MMboe (OGJ Online, Apr 6, 2020).
Mikaila Adams | Managing Editor - News
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was named Managing Editor - News in 2019. She holds a degree from Texas Tech University.
