Subsea 7: contract comes from TP-OTC

Subsea 7: contract comes from TP-OTC

Luxembourg – 27 August 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) has announced the award of a significant contract by Turkish Petroleum Offshore Technology Center (TP-OTC). The project, focused on the development of phase 3 of the Sakarya field in the Black Sea, offshore Türkiye, is valued between $750 million and $1.25 billion, classifying it as a major contract [1].

Subsea 7’s scope of work includes engineering, procurement, construction, and installation (EPCI) of subsea umbilicals, risers, and flowlines (SURF). The project management and engineering will commence immediately and will be overseen by the Subsea 7 office in Istanbul, Türkiye.

David Bertin, Senior Vice President for Subsea7 Global Projects Centre East, commented on the award, stating, “This contract builds on our track record in Türkiye and further strengthens our relationship with TP-OTC. It underscores our expertise in delivering complex, integrated offshore projects safely and reliably, while also reinforcing our commitment to supporting Türkiye’s strategic energy goals and enhancing our regional presence” [1].

Hulya Ozgur, Subsea7 Türkiye Business Unit Director, expressed pride in continuing the journey with TP-OTC on the Sakarya Gas Field Development Project, emphasizing the dedication and capability of the Türkiye team, the commitment to local content development, and the focus on delivering safe and efficient offshore solutions [1].

This contract is a significant milestone for Subsea 7, demonstrating its ability to secure major projects and its commitment to supporting the energy independence goals of Türkiye. The company continues to position itself as a global leader in offshore project delivery, creating sustainable value through its expertise and reliability [1].

References:
[1] https://www.globenewswire.com/news-release/2025/08/27/3140306/0/en/Subsea7-awarded-contract-offshore-T%C3%BCrkiye.html