Equinor (EQNR) Awards SURF EPCI Contract for Troll Gas Project

Zacks06-26

Equinor ASA EQNR has awarded Ocean Installer an engineering, procurement, construction and installation (EPCI) contract for subsea umbilicals, risers and flowlines (SURF) as part of the second stage ...

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Equinor holds a 30.58% operating interest in the Troll gas field.In addition to the SURF EPCI contract, Ocean Installer has secured a separate contract to replace a 4-kilometer, 10-inch flexible flowline at the Troll B field, scheduled for 2025.The Zacks Consensus Estimate for AROC’s 2024 and 2025 EPS is pegged at $1.07 and $1.23, respectively. The company has a Zacks Style Score of A for Growth","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","GPRK":"GeoPark Ltd","BK4213":"石油与天然气的勘探与生产","BK4179":"石油天然气设备与服务","BK4139":"生物科技","BK4588":"碎股","EQNR":"Equinor ASA","BK4201":"综合性石油与天然气企业","AROC":"Archrock, Inc","SURF":"Surface Oncology","BK4590":"PTP","BK4138":"石油与天然气的炼制和营销","SUN":"太阳石油"},"translate_title":"Equinor(EQNR)授予Troll天然气项目SURF EPCI合同","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AROC":1,"EQNR":1,"SUN":1,"SURF":1,"GPRK":0.9},"content_text":"Equinor ASA EQNR has awarded Ocean Installer an engineering, procurement, construction and installation (EPCI) contract for subsea umbilicals, risers and flowlines (SURF) as part of the second stage of the Troll Phase 3 gas development project offshore Norway.\nThe contract, valued at more than $95 million (NOK 1 billion), encompasses significant fabrication work and extensive offshore operations set to span three years, with the initial campaign set to commence in 2025.\nThe contract follows Equinor and its partners’ decision to invest more than $1.13 billion (NOK 12 billion) to advance the gas infrastructure in the Troll West gas prospect. Equinor holds a 30.58% operating interest in the Troll gas field.\nStage 2 of the Troll Phase 3 project includes drilling eight new wells from two new templates, with subsea controls extended from existing templates. A new 36-inch gas flowline will be installed as a tie-back to the Troll A platform and modification work will be conducted on Troll A.\nIn addition to the SURF EPCI contract, Ocean Installer has secured a separate contract to replace a 4-kilometer, 10-inch flexible flowline at the Troll B field, scheduled for 2025.\nOcean Installer’s EPCI contract includes the fabrication and installation of four large pipeline termination structures for the 36-inch gas flowline, five 20-inch spools, a subsea pig launcher and receiver, 6 km of 4.5-inch MEG Line, and protective covers.\nAdditionally, the work covers the installation of the subsea production system and umbilicals from OneSubsea, as well as trenching and pre-commissioning activities. Engineering work is already underway from Ocean Installer’s offices in Stavanger and Oslo, with the majority of fabrication set to be awarded to Norwegian subcontractors.\nThe Troll gas field currently produces at a plateau rate of 129 million standard cubic meters of gas per day, following upgrades at the Kollsnes processing plant. The new Troll wells are expected to add approximately 20 million standard cubic meters of gas per day to production.\nThe new infrastructure will accelerate reservoir production equivalent to around 55 billion standard cubic meters of gas, with an annual peak contribution of about 7 billion standard cubic meters of gas from the new development.\nZacks Rank & Key Picks\nCurrently, EQNR carries a Zacks Rank #3 (Hold).\nInvestors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. AROC, Sunoco LP SUN and GeoPark Ltd. GPRK, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nArchrock is an energy infrastructure company based in the United States, focusing on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.\nThe Zacks Consensus Estimate for AROC’s 2024 and 2025 EPS is pegged at $1.07 and $1.23, respectively. The company has a Zacks Style Score of A for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.\nSunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes above 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value and Growth Score of A.\nThe Zacks Consensus Estimate for SUN’s 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.\nGeoPark, based in Hamilton, Bermuda, is an explorer, operator and consolidator in the oil and gas sector. The company primarily operates in Chile, Colombia, Brazil and Argentina.\nThe Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $3.23 and $3.98, respectively. The company has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSunoco LP (SUN) : Free Stock Analysis Report\nGeopark Ltd (GPRK) : Free Stock Analysis Report\nArchrock, Inc. (AROC) : Free Stock Analysis Report\nEquinor ASA (EQNR) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446331883"}