Shell awards Subsea 7 contract for Sparta deepwater project in Gulf of Mexico

From Nasdaq: 2025-04-07 05:32:00

Shell Offshore Inc., a subsidiary of Shell plc, has awarded a significant contract to Subsea 7 S.A. for its Sparta deepwater development in the U.S. Gulf of Mexico. The contract, valued between $50 million and $150 million, involves transportation and installation of a floating production system at Garden Banks block 959.

The Sparta project is Shell’s 15th deep-water host in the Gulf of Mexico, with a peak output of about 90,000 boe/d and a recoverable resource volume potential of 244 million barrels of oil equivalent. The project, jointly owned by Shell and Equinor, is expected to begin production in 2028, following Shell’s final investment decision in December 2023.

Investors interested in the energy sector may consider top-ranked stocks like Expand Energy Corporation and Prairie Operating Co. Expand Energy, formed through a merger, is expected to see 422.70% year-over-year earnings growth in 2025, while Prairie Operating, engaged in oil and gas resources, is expected to see 334.29% earnings growth in 2025.

Discover the top stock picks with the greatest probability of gaining over 100% in the coming months, as identified by Zacks’ team of experts. Director of Research Sheraz Mian highlights a stock in the financial sector with innovative solutions and strong growth potential. Explore these elite picks for potential big gains.



Read more at Nasdaq: Shell Awards a Contract to Subsea 7 for its Sparta Deepwater Project