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Subsea 7 ( (GB:0OGK) ) has provided an update.
Subsea7 has secured a sizeable contract, valued between $50 million and $150 million, from Shell for the Kaikias Waterflood deepwater project in the Mars-Ursa Basin, about 210 kilometres off the Louisiana coast. The award covers the transportation and installation of a subsea umbilical, riser and rigid flowline in water depths of up to 1,650 metres, with engineering work starting immediately from Subsea7’s Houston office and offshore installation scheduled for 2027, bolstering the company’s long-standing relationship with Shell and reinforcing its presence in the Gulf of Mexico deepwater market.
The most recent analyst rating on (GB:0OGK) stock is a Hold with a NOK230.00 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
Subsea7 is a global leader in delivering offshore projects and services for the evolving energy industry, providing efficient offshore solutions for clients worldwide and positioning itself as a key partner and employer of choice in the sector. The company is listed on the Oslo Børs under the ticker SUBC and focuses on creating sustainable value through complex subsea engineering, construction and installation work.
Average Trading Volume: 309,737
Current Market Cap: NOK69.92B
For an in-depth examination of 0OGK stock, go to TipRanks’ Overview page.