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The latest announcement is out from Subsea 7 ( (GB:0OGK) ).
Subsea 7 has secured a supermajor contract, valued at more than $1.25 billion, from Petrobras to deliver subsea umbilicals, risers and flowlines for the Sépia 2 pre-salt field expansion offshore Brazil. The award, covering engineering, procurement, fabrication, installation and pre-commissioning for 17 wells and a gas export line, will be managed from the company’s hubs in Rio de Janeiro, Paris and Sutton, with offshore work starting in 2029.
The contract deepens Subsea 7’s already strong relationship with Petrobras and reinforces its strategic presence in Brazil’s pre-salt Santos Basin, one of the world’s most important deepwater regions. By adding a large, long-dated project of national importance to its backlog, the company strengthens revenue visibility and underscores its role in Brazil’s broader energy development, while highlighting its ability to execute high-local-content, technically complex offshore work.
The most recent analyst rating on (GB:0OGK) stock is a Buy with a NOK410.00 price target. To see the full list of analyst forecasts on Subsea 7 stock, see the GB:0OGK Stock Forecast page.
More about Subsea 7
Subsea 7 S.A. is a global provider of offshore engineering and construction services to the energy industry, with a focus on subsea umbilicals, risers and flowlines and related offshore project delivery. Listed on the Oslo Børs, the company positions itself as a key partner for complex deepwater developments and the evolving offshore energy market.
Average Trading Volume: 457,799
Current Market Cap: NOK89.14B
For detailed information about 0OGK stock, go to TipRanks’ Stock Analysis page.