Subsea 7 S.A.
- ExchangeBerlin Stock Exchange
- SectorOil Equipment, Services & Distribution
Petrobras’ updated 5-year business (2020–2024) sees a limited near-term E&P spending increase, with the capex profile once again back-end loaded. 2020 E&P spending is guided flattish YOY, which we consider on the downside versus consensus but in line with our view for global offshore E&P spending. Further, we believe a meaningful portion of the higher E&P spending in 2022–2024e relates to platforms (FPSOs) for the Transfer of Rights (ToR) being owned rather than leased (as Petrobras normally does). As this is capex paid to the yards to purchase the FPSOs, we believe the underlying revenue pote...
Subsea 7 awarded contract offshore Australia Luxembourg – 28 November 2019 – Subsea 7 S.A. (Oslo Børs: SUBC; the Company) today confirmed a substantial(1) contract award by Woodside for the execution of phase 2 of the Julimar-Brunello Project. This contract was awarded to Subsea 7 earlier this year, subject to the final investment decision of the Julimar-Brunello joint venture participants (Woodside and KUFPEC), which has now occurred. The Julimar field is located approximately 200 km offshore North Western Australia. The full scope of work will be to design, procure, install and commis...
Feasibility Study Results in December to be a Catalyst for this Junior