Oslo-listed offshore engineering and companies supplier Subsea 7 is ready to be awarded a brand new contract estimated to be price over $750m.

The corporate mentioned Wednesday it had acquired a shopper advice to execute, topic to consortium companions’ approval, a serious subsea contract.

Subsea 7 will ebook the deal in its subsea and standard enterprise unit’s third-quarter backlog, whereas consortium approval is predicted within the fourth quarter.

No additional particulars have been disclosed “as a consequence of contractual obligations”.