The latest announcement is out from Subsea 7 ( (GB:0OGK) ).
Subsea 7 S.A. has secured a sizeable contract from Shell Offshore Inc. for the Sparta deepwater development project in the US. This project involves the transportation and installation of a floating production system at Garden Banks block 959, off the southeastern coast of Louisiana. The project management and engineering activities will commence immediately in Houston, with offshore operations expected to start in 2027. This contract strengthens Subsea7’s collaboration with Shell and enhances its positioning in the Gulf of Mexico, building on previous successful projects.
More about Subsea 7
Subsea7 is a global leader in delivering offshore projects and services for the evolving energy industry. The company is committed to creating sustainable value by being the industry’s partner and employer of choice, offering efficient offshore solutions worldwide. Subsea7 is listed on the Oslo Børs under the ticker SUBC.
YTD Price Performance: -8.51%
Average Trading Volume: 48,799
Technical Sentiment Signal: Hold
Current Market Cap: NOK48.92B
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