Subsea 7 secures ConocoPhillips contract for Norwegian offshore project

Investing.com -- Subsea 7 has been awarded a contract from ConocoPhillips for the Previously Produced Fields development project offshore Norway.

The contract, valued between $300 million and $500 million, involves Subsea 7 handling the engineering, procurement, construction, and installation of subsea infrastructures, umbilicals, risers, and flowlines. Offshore activities for the project are scheduled to take place during 2027 and 2028.

This marks the fourth contract Subsea 7 has announced for its fourth-quarter order intake so far, bringing its quarter-to-date order intake to over $1 billion.

With this new contract, Subsea 7’s year-to-date order intake has exceeded $8 billion, surpassing forecasts for the full year. The company’s annual order intake was projected to reach $8 billion, with $7 billion coming from the Subsea segment and $1 billion from offshore wind operations.

The strong order performance provides support for Subsea 7’s business outlook extending into 2027 and beyond.

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