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An update from Subsea 7 ( (GB:0OGK) ) is now available.
Subsea 7 has secured a substantial subsea installation contract from Chevron in the Eastern Mediterranean, valued in the $150 million to $300 million range. The award covers the transport and installation of about 17 kilometres of subsea flowlines and umbilicals, with project management and engineering led from Paris and offshore work scheduled to begin in the first quarter of 2028.
The contract extends Subsea 7’s long-standing strategic partnership with Chevron, adding a new region to a relationship already spanning West Africa, Australia and the U.S. It underlines the company’s strong position in the offshore installation market and signals continued demand for complex subsea infrastructure, supporting Subsea 7’s project backlog and reinforcing its role in large-scale offshore energy developments.
The most recent analyst rating on (GB:0OGK) stock is a Sell with a NOK160.00 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 energy projects and services, specialising in the delivery of subsea engineering, construction and installation solutions. Listed on the Oslo Børs, the company focuses on providing efficient, integrated offshore solutions for the evolving energy industry, positioning itself as both a key project partner and employer of choice.
YTD Price Performance: 19.88%
Average Trading Volume: 337,630
Current Market Cap: NOK72.05B
For a thorough assessment of 0OGK stock, go to TipRanks’ Stock Analysis page.