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Subsea 7 ( (GB:0OGK) ) has shared an update.
Subsea 7 has secured a large EPCI contract, valued by its own definition at between $300 million and $500 million, from ConocoPhillips Skandinavia for the Previously Produced Fields development in the Greater Ekofisk Area offshore Norway. The award, which follows an earlier front-end engineering and design contract for the same project, covers subsea structures, umbilicals, risers and flowlines that will tie the fields back to the existing Ekofisk Complex, with engineering work starting immediately in Norway and major offshore campaigns planned for 2027 and 2028, further cementing Subsea 7’s relationship with ConocoPhillips and reinforcing its position in the Norwegian subsea market, subject to regulatory approval of the development plan.
The most recent analyst rating on (GB:0OGK) stock is a Buy with a NOK355.00 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 is a global leader in offshore energy projects and services, specialising in engineering, procurement, construction and installation (EPCI) of subsea infrastructure for the evolving energy industry. Listed on the Oslo Børs, the company focuses on delivering efficient offshore solutions, including subsea structures, umbilicals, risers and flowlines, primarily for oil and gas operators worldwide.
Average Trading Volume: 315,377
Current Market Cap: NOK57.26B
For detailed information about 0OGK stock, go to TipRanks’ Stock Analysis page.