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Subsea 7 ( (GB:0OGK) ) has issued an update.
Subsea 7 has secured a substantial contract, valued by its own definition between $150 million and $300 million, from Noble Energy EG, a Chevron company, for subsea installation work on the Aseng Gas Monetisation Project offshore Equatorial Guinea. The award strengthens Subsea 7’s backlog and underlines its strategic relationship with Chevron in West Africa.
The project involves a single-well tieback from the Aseng field to the existing Alen platform, including transport and installation of about 19 kilometres of rigid production flowline, 20 kilometres of umbilicals and associated subsea structures in 800-metre water depths. Project management and engineering will start immediately from Subsea 7’s Paris office with support from Lisbon and local teams, with offshore operations scheduled to begin in 2026, reinforcing the company’s nearly two-decade presence in Equatorial Guinea.
The most recent analyst rating on (GB:0OGK) stock is a Hold with a NOK320.00 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 leader in offshore projects and services for the energy industry, focused on delivering subsea engineering, construction and installation solutions. Listed on the Oslo Børs, the company targets evolving offshore energy needs by providing efficient subsea infrastructure and long-term support for oil and gas operators worldwide.
Average Trading Volume: 442,319
Current Market Cap: NOK88.85B
For a thorough assessment of 0OGK stock, go to TipRanks’ Stock Analysis page.