New framework agreement with ConocoPhillips takes Subsea7 to Norway

Subsea7 Secures Contract with ConocoPhillips for Norwegian Project
Subsea7 has landed a deal with ConocoPhillips, an American energy company, for conducting a front-end engineering and design (FEED) study for the Previously Produced Fields (PPF) development project in Norwegian waters.
The PPF is situated in the Greater Ekofisk Area, around 290 kilometers southwest of Stavanger, and will be linked to the existing Ekofisk Complex.
Under the agreement with ConocoPhillips Skandinavia, Subsea7 will carry out the FEED study to finalize the technical details of the proposed subsea development. The work is set to begin immediately at Subsea7’s office in Norway.
This project falls under a fresh framework deal between the companies. Should the development receive the final investment decision (FID) and regulatory approval, ConocoPhillips can choose to grant Subsea7 a significant subsea structures, umbilicals, risers, and flowlines (SURF) package valued between $300 million and $500 million.
Offshore installation operations related to this contract are anticipated to take place from 2026 to 2029.
Erik Femsteinevik, Vice President for Subsea 7 Norway, expressed his pleasure about signing the Framework Agreement with ConocoPhillips and earning the initial FEED contract. He stated that the study would allow Subsea7 to participate early in the field development process, optimize design solutions, and aid in the final investment decision. Femsteinevik also mentioned the anticipation of collaborating closely with ConocoPhillips to unlock additional value in the Greater Ekofisk Area.
The Greater Ekofisk Area comprises three active fields – Ekofisk, Eldfisk, and Embla – with their production transported through the Ekofisk Complex to receiving terminals in Emden, Germany (for gas), and Teesside, UK (for oil).