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Subsea 7 ( (GB:0OGK) ) just unveiled an update.
Subsea 7 has secured a large variation order, valued between $300 million and $500 million, from Turkish Petroleum Offshore Technology Center for additional work on the Sakarya field development in the Black Sea, offshore Türkiye. The new award extends the existing Phase 3 contract to connect the recently discovered Goktepe field to the floating production unit, reinforcing Subsea 7’s role in Türkiye’s offshore gas expansion.
The scope covers EPCI of roughly 20 kilometres of flexible pipelines, 120 kilometres of umbilicals, a rigid production riser and associated subsea equipment in ultra-deep waters of about 2,200 metres, with project management run from Istanbul and offshore work scheduled for 2027–2028. The deal deepens Subsea 7’s long-term relationship with TP-OTC, boosts its backlog in a key growth region and underpins investments aimed at increasing Turkish gas production and strengthening the country’s energy industry.
The most recent analyst rating on (GB:0OGK) stock is a Buy with a NOK310.00 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 evolving energy industry, with a focus on delivering efficient subsea engineering, construction and installation solutions. Listed on the Oslo Børs, the company positions itself as a key partner to energy operators worldwide, supporting offshore field developments and infrastructure that underpin long-term energy supply.
Average Trading Volume: 386,112
Current Market Cap: NOK78.61B
See more data about 0OGK stock on TipRanks’ Stock Analysis page.