OB:SUBCEnergy Services
Subsea 7 (OB:SUBC) Valuation Check After New Sakarya Variation Order Win
Subsea 7 (OB:SUBC) just announced a large variation order from Turkish Petroleum Offshore Technology Center for the Sakarya field in the Black Sea, extending its existing contract and expanding engineering and installation work.
See our latest analysis for Subsea 7.
The latest Sakarya variation order lands just after Subsea 7 reported fourth quarter and full year 2025 results, reaffirmed 2026 revenue guidance of US$7.0b to US$7.4b, outlined asset impairments, confirmed a proposed NOK 13.00...