Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) has announced its latest win: a contract from Equinor for a front-end engineering and design (FEED) study for the Fram Sør development project, located offshore Norway. This agreement also includes an engineering, procurement, construction, and installation (EPCI) option, which could result in a substantial award for Subsea 7.
The FEED study focuses on finalizing the technical aspects of the proposed subsea development, ensuring all pieces are in place before Equinor and its partners decide to move forward with the investment. The study will be carried out at Subsea 7’s offices in Norway and the UK, with work set to begin immediately.
If Equinor exercises the EPCI option, Subsea 7 will be tasked with the installation of subsea structures, umbilicals, risers, and flowlines (SURF). This potential contract, categorized by Subsea 7 as “substantial,” signifies a value between $150 million and $300 million. Offshore activities linked to this project are planned for 2026 through 2028.
Fram Sør is situated 10-30 kilometers north of Equinor’s Troll C platform and approximately 70 kilometers northwest of Bergen. The development will connect to existing Fram and Troll C infrastructure, ensuring seamless integration into the region’s operational network.
Erik Femsteinevik, Vice President for Subsea 7 Norway, commented, “This award continues our long-standing collaboration with Equinor. The study enables Subsea 7 to engage early in the field development process, optimizing design solutions and contributing to the final investment decision. We look forward to working closely with Equinor to unlock the value in Fram Sør.”
This project not only underscores the robust partnership between Subsea 7 and Equinor but also reinforces the importance of early collaboration in ensuring successful field development. With key offshore activities spread across three years, the project reflects Subsea 7’s commitment to operational excellence and sustainable energy solutions.
