Offshore engineering and services player Subsea 7 has won a new engineering, procurement, construction and installation contract offshore Norway.
The EPCI deal involves pipeline bundles, spools, protection covers, and tie-ins using key vessels from Subsea 7’s fleet for an undisclosed client. The financial details were not revealed; however, it was stated that the contract was substantial, falling within the $150m to $300m range.
Project management and engineering will begin immediately at the company’s offices in Stavanger and Aberdeen. Fabrication of pipeline bundles will take place at Wester. Offshore operations are expected to take place in 2025-2027.
“By engaging early in the field development process, we can optimise design solutions and contribute to a positive final investment decision,” said Erik Femsteinevik, VP for Subsea 7 Norway.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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