OB:SUBCEnergy Services
Subsea 7 (OB:SUBC) Is Down 6.1% After Winning US$1.25b Petrobras SURF Contract - Has The Bull Case Changed?
In April 2026, Subsea 7 S.A. announced it had secured from Petrobras a supermajor contract worth over US$1.25 billion for the Sépia 2 pre-salt field offshore Brazil, covering engineering, procurement, fabrication, installation and pre-commissioning of subsea umbilicals, risers and flowlines for 17 wells and a gas export line, with offshore work targeted from 2029.
Coming just days after a long-term collaboration framework with PETRONAS Suriname E&P B.V. via Subsea Integration Alliance, these...