Subsea 7 today announced the award of a contract by Equinor for the front-end engineering and design (FEED) study for the marine installations associated with the Krafla development project, offshore Norway.
The awarded work is required to finalise the technical definition of the proposed development prior to Equinor and its partners making the final investment decision (FID) planned late 2022. The FEED study will begin immediately.
Subsea 7 has recognised the FEED award in its order backlog in the first quarter of 2022. The value of a potential, subsequent EPCI contract would only be recognised by Subsea 7 in its backlog upon FID, and would represent a large1 project award.
Project management and engineering will take place in our offices in Stavanger and Aberdeen. Offshore installation activities would be scheduled for 2024, 2025 and 2026.
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Subsea 7 awarded FEED contract for Krafla development project
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