OB:SUBCEnergy Services
Subsea 7’s Petrobras Sépia 2 Win Reshapes Outlook And Valuation Gap
Subsea 7 (OB:SUBC) has been awarded a supermajor contract from Petrobras for the Sépia 2 field offshore Brazil.
The contract covers engineering, procurement, fabrication and installation of subsea equipment for 17 wells and a major gas export line.
Subsea 7 classifies this award as a supermajor contract, meaning it is valued above US$1.25b.
The project adds materially to Subsea 7’s backlog and deepens its role in one of the world’s most active offshore energy markets.
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