Subsea 7 Wins Substantial ExxonMobil Subsea Contract Offshore Angola

Subsea 7 ( (GB:0OGK) ) has shared an update.

Subsea 7 has secured a substantial EPCI contract, valued by its own definition between $150 million and $300 million, from ExxonMobil for a subsea tie-back linked to the Redevelopment 2.0 Likembe Project in Block 15 offshore Angola. The work will be executed through Subsea Integration Alliance, with project management led from Subsea 7 offices in Europe and Africa and umbilical scope handled by SLB OneSubsea in Norway and Houston, reinforcing the alliance’s integrated delivery model, deepening its relationship with ExxonMobil and supporting local capability building in Angola.

Subsea 7 executives highlighted that the award extends the company’s track record in West Africa and other key offshore regions, underscoring the strategic importance of early collaboration with clients to optimise development solutions. The contract is expected to strengthen Subsea 7’s position in the offshore Angolan market and demonstrates continued investment by major oil companies in subsea tie-backs, which can enhance utilisation of existing infrastructure and support more capital-efficient field redevelopment.

The most recent analyst rating on (GB:0OGK) stock is a Hold with a NOK302.00 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 engineering, procurement, construction and installation (EPCI) solutions for the evolving energy industry. Listed on the Oslo Børs, the company focuses on delivering efficient offshore developments worldwide, positioning itself as a key partner and employer of choice in subsea and offshore operations.

Average Trading Volume: 492,612

Current Market Cap: NOK96.12B

For detailed information about 0OGK stock, go to TipRanks’ Stock Analysis page.