Key Takeaways
Subsea 7 S.A. has secured a substantial contract worth up to $300 million from Vår Energi for a gas export project in the Barents Sea, reinforcing the company's operational pipeline in the Norwegian offshore sector.
"We are proud to be awarded the Goliat Gas Export Project, which represents the first contract awarded under our new strategic partnership agreement with Vår Energi," Erik Femsteinevik, Vice President for Subsea7 Norway, said. "Working closely from the outset places us in a strong position to create value and deliver a high-quality solution for this important development.”
The contract, which Subsea 7 defines as being between $150 million and $300 million, covers the engineering, procurement, construction, and installation (EPCI) of a 12.7-kilometer, 10-inch pipeline. Offshore work is scheduled to take place between 2027 and 2028.
The award is the first tangible result of a strategic partnership formed in March 2026 between Vår Energi, Subsea 7, and OneSubsea. The project aims to enhance the value of the Goliat field by enabling gas export to the Hammerfest LNG plant via the existing Snøhvit pipeline system.
Project management and engineering will commence immediately from Subsea 7's office in Stavanger, Norway. The scope includes the installation of the uninsulated carbon steel pipeline and other associated subsea infrastructure needed to tie in the gas export system safely and reliably.
The Goliat field, located offshore Norway, will gain a new export route through this project. By connecting to the Snøhvit pipeline, Vår Energi can transport gas to the Hammerfest LNG plant on Melkøya, unlocking further production potential from the field. This move aligns with Norway's strategy to maintain its position as a key gas supplier to Europe.
This article is for informational purposes only and does not constitute investment advice.
