Equinor Awards Roughly $613.6 million in Contracts for Norwegian Subsea Projects

MT Newswires Live07-07

Equinor (EQNR) said Tuesday it awarded roughly 6 billion Norwegian kroner ($613.6 million) in contracts across four subsea development operations on behalf of its partners.

The agreements are the first step in a larger plan designed to cut expenses and operational timelines for Norwegian continental shelf projects, which include Twin, Omega Sor, Tyrihans Nord, and Brime, the company said.

The combined offshore fields are expected to generate between 130 million and 220 million barrels of oil equivalent, it said.

TechnipFMC, OneSubsea, Ocean Installer, and NOV will provide production systems, pipelines, and marine installation services for the targeted sites, Equinor said.

Shares of the company were up 3.6% in Tuesday premarket activity.

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