Subsea7 awarded contract offshore Türkiye
Luxembourg – 04 March 2026 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a large1 variation order by Turkish Petroleum Offshore Technology Center AS (TP-OTC) relating to the Sakarya field development in the Black Sea, offshore Türkiye.
The award represents an extension to the contract announced by Subsea7 on for the third phase of Sakarya and will connect the recently discovered Goktepe field to the Phase 3 floating production unit.
The scope of work comprises engineering, procurement, construction and installation (EPCI) of approximately 20 kilometres of flexibles, 120 kilometres of umbilicals, a rigid production riser and associated subsea equipment in water depths of 2,200 metres. Project management and engineering will be coordinated through the Subsea7 office in Istanbul, Türkiye. Offshore activities are expected in 2027 and 2028.
David Bertin, Senior Vice President of Subsea7’s Global Project Centre – East, said: “We are proud to continue to support TP-OTC in their ambitions in the Black Sea with the development of the Goktepe field, which will enable increased production through the Sakarya Phase 3 facilities and support Türkiye’s gas needs.”
Hulya Ozgur, Business Unit Director Subsea7 Türkiye, said: “We look forward to continuing our long-term relationship with TP-OTC, which is making a significant contribution to the development and growth of the Turkish energy industry.”
- Subsea7 defines a large contract as being between $300 million and $500 million
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Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on DD Mmmm 2025 at [TIME] CET.
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