Subsea7 announced several sizeable contracts in late 2025 for projects offshore Norway, UK, and US. Awards included long-lead procurement in the Norwegian North Sea; decommissioning services for Ithaca Energy; subsea installation work with LLOG; major EPCI deal with ConocoPhillips; IMR extension with Equinor using Seven Viking; operations spanning 2026-2028.
Harbour Energy's $3.2 billion purchase of LLOG marks its entrance into U.S. Gulf deepwater assets, while Shell and INEOS Energy announce their first oil discovery in the Gulf of America. CNOOC launches production from its Xijiang 24 wellhead platform while contracts continue flowing to TechnipFMC, Subsea7, and other companies from Mozambique Australia and beyond -- signalling robust offshore momentum amid expanding Caribbean logistics networks.
Subsea7 was awarded a contract for decommissioning services for Ithaca Energy’s Alba floating storage unit in the North Sea, representing continued growth within subsea services’ decommissioning segment. The contract was announced in early December 2025.