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Subsea7 awarded contract in the Mediterranean Sea
Globenewswire· 2026-02-09 17:49
Core Viewpoint - Subsea 7 S.A. has been awarded a significant contract by Chevron for subsea installation in the Eastern Mediterranean, which includes the transport and installation of approximately 17 kilometers of subsea flowlines and umbilicals, with project management and engineering starting immediately [1][2]. Group 1: Contract Details - The contract awarded to Subsea 7 is classified as substantial, valued between $150 million and $300 million [2]. - Offshore activities related to this project are expected to commence in the first quarter of 2028 [1]. Group 2: Strategic Partnership - This contract reinforces the long-term strategic partnership between Subsea 7 and Chevron, building on their successful collaboration in regions such as West Africa, Australia, and the US [2]. - The focus of this partnership will be on safety, efficiency, and technical integrity to deliver reliable offshore solutions [2]. Group 3: Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services for the energy industry, emphasizing sustainable value and efficient offshore solutions [3].