Norwegian giant awards over $600m in subsea contracts to kickstart development wave

AI Summary

Equinor, the Norwegian energy giant, has awarded over $600 million in contracts for subsea developments. This marks the start of a coordinated effort to accelerate and reduce costs of subsea projects on the Norwegian continental shelf.

Norwegian energy giant Equinor has awarded contracts worth around NOK 6bn ($612m) for four subsea projects. They are part of the first of several planned subsea development waves, in which contracts are being coordinated to increase pace and reduce costs for subsea developments on the Norwegian continental shelf. “We envisage around 75 subsea developments towards …