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].

Saipem, in consortium with two affiliates of the State Oil Company of the Azerbaijan Republic (SOCAR), has been awarded three offshore contracts with a total value of approximately $700 million for BP’s Shah Deniz Compression Project in the Caspian Sea. Saipem’s share amounts to about $600 million, the company announced. Under the new contracts, Saipem will be responsible for the transportation and installation (T&I) of a new 19,000-ton compression platform, as well as the engineering, procurement, constr ...