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StocksMedium•30 April 2026•

1 min read

Subsea 7 Secures Substantial EPCI Contract from ExxonMobil for Angola Project

Key Facts

1Subsea 7 announced that the Subsea Integration Alliance was awarded a substantial EPCI contract by ExxonMobil.

2The contract is for the Redevelopment 2.0 Likembe Project in Block 15, offshore Angola.

Subsea 7 has announced that the Subsea Integration Alliance (SIA) was awarded a substantial EPCI contract by ExxonMobil for the Redevelopment 2.0 Likembe Project. Located in Block 15 offshore Angola, the project involves comprehensive engineering, procurement, construction, and installation services. Subsea 7 typically defines a 'substantial' contract as being valued between $150 million and $300 million, providing significant revenue visibility. This award underscores the alliance's strong positioning in the subsea tie-back market and its ongoing relationship with major energy operators. The project aims to enhance production infrastructure in the Angolan offshore region. This development is viewed as a bullish signal for Subsea 7's stock, reflecting robust demand for specialized offshore services.