Subsea 7 wins Norwegian North Sea FEED contract
Subsea 7 today announced the award of a contract by Aker BP for the front-end engineering and design (FEED) study for the NOA Fulla development project, offshore Norway. NOA Fulla is located in the southern part of the NOAKA area in the Norwegian North Sea.
The awarded work is required to finalise the technical definition of the proposed development prior to Aker BP and its partners making the final investment decision (FID) late 2022. The FEED study will begin immediately.
Subsea 7 has recognised the FEED award in its order backlog in the third quarter of 2021. The value of a potential subsequent EPCI contract would only be recognised by Subsea 7 in its backlog upon FID, and would represent a substantial1 project award.
Project management and engineering will take place in our office in Stavanger, Norway. Offshore installation activities would be scheduled for 2025, 2026 and 2027.
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