Subsea 7
Subsea 7 News
Subsea 7 Wins ‘Sizeable’ Offshore Contract
Subsea 7 S.A. announced today it has been awarded a “sizeable” offshore transportation and installation contract.The subsea engineering, construction and services…
Subsea 7 Bags Offshore Norway Deal
Subsea 7 S.A. announced the award of a contract by Wintershall for the Nova (formerly known as Skarfjell) oil and gas field development. Nova is located in the north-eastern part of the North Sea…
Schlumberger, Subsea 7 Mull Oil Services JV
Schlumberger, the world's largest oilfield services firm, and smaller peer Subsea 7 said on Friday they were entering exclusive talks to form a joint venture to deliver subsea installations and services for oilfields. The news lifted Subsea 7 shares on hopes the talks could be the first step towards a full takeover, in a sector that has already seen consolidation with the 2016 merger of Technip and FMC Technologies.
Subsea 7 to Invest in Xodus Group
Leading global contractor in seabed-to-surface engineering, construction and services to the offshore energy industry Subsea 7 S.A. and Chiyoda Corporation announced…
Subsea 7 Bags Contracts Offshore Norway
Subsea 7 S.A. said it was awarded a contract from Statoil for the Johan Castberg field development, located 240 km from Hammerfest in Norway. The contract comprises the design…
Subsea 7 Acquires Normand Oceanic
Subsea 7 S.A. has announced an agreement to acquire the remaining 50% shareholdings in its equity accounted joint ventures, Normand Oceanic AS and Normand Oceanic Chartering AS…
Subsea 7 Acquires EMAS Chiyoda Subsea Assets
Subsea 7 S.A. said it has acquires certain businesses of EMAS Chiyoda Subsea (ECS) under a U.S. bankruptcy code Chapter 11 Plan of Reorganization, confirmed by the U.S.
Subsea 7 CFO has 'Measured Optimism' of Oil Service Market Recovery
Oslo-listed oil services firm Subsea 7's Chief Financial Officer Ricardo Rosa told an energy conference in Oslo he sees gradual market recovery as oil prices stabilize, and the outlook for subsea project awards increasing within the next 12 months. "Previously all the discussions (with oil companies) were about cutting costs, now we are starting to talk about launching new projects... We have a measured optimism," Rosa said.
Subsea 7 Acquires Seaway Heavy Lifting
Specialist offshore contractor Seaway Heavy Lifting, a 50/50 joint venture between Subsea 7 S.A. and K&S Baltic Offshore (Cyprus) Limited, is now a wholly-owned subsidiary of Subsea 7. Subsea 7 said it acquired the remaining 50 percent shareholding in Seaway Heavy Lifting Holding Limited and its subsidiaries on March 10, 2017 for a cash consideration of $279 million on completion and an additional…
Subsea 7 Awarded Subsea Work Off Australia
Subsea 7 S.A. said it has been awarded a “sizeable” contract by Cooper Energy Ltd for the Sole Development Project, offshore Australia. Subsea 7 defines a sizeable…
New Subsea 7 Heavy Construction Vessel Built to LR Class
Subsea 7’s newest heavy construction flexlay vessel, Seven Arctic, has been designed and built to Lloyd’s Register (LR) class. Designed to meet the demands of deepwater and harsh environments, she can work at depths of 3,000m and features three offshore cranes, the largest of which is capable of a 1000-tonne lift. Built by Hyundai Heavy Industries, Seven Arctic measures 162.3 meters in overall length with a breadth of 32m.
Subsea 7 offer for Seaway Heavy Lifting
Subsea 7 S.A. announced that one of its wholly owned subsidiaries has made an offer to acquire the 50% shareholding in Seaway Heavy Lifting Holding Limited currently…
Subsea 7 Loses Petrobras Contract
Subsea 7 has received an early termination of the day-rate contract for its pipelay support vessel (PLSV) Seven Mar from the state-owned Brazilian firm Petrobras.
Subsea 7 Awarded Norwegian North Sea Contract
Subsea 7 S.A. today announced the award of a sizeable(1) contract by Centrica for the Oda field in the Norwegian North Sea. The Oda oil field (previously called…
Subsea 7 Announces PLSV Swap off Brazil
Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil. The agreement will see the Subsea…
Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal
Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2)…
Subsea 7 Secures EPCI Contract
Subsea 7 S.A. announced it has been awarded an engineering, procurement, construction and installation (EPCI) contract for offshore execution in 2017 and 2018. The…
Subsea 7 Profits Dip in Q1
Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period. Adjusted EBITDA meanwhile was $284 million with an Adjusted EBITDA margin of 38 percent, higher than 2015 despite the lower revenues. Subsea 7’s Chief Executive Officer, Jean Cahuzac, said, “This performance benefitted from good project…
Subsea 7 to Exit Singapore for Kuala Lumpur
Rising costs of doing business in Singapore has forced Subsea7 to switch its regional headquarters from the city to Kuala Lumpur (KL), says a report in Business Times.
Subsea 7 Secures Contract Offshore Egypt
Offshore services provider Subsea 7 S.A. announced today it has been awarded a contract from Burullus Gas Company S.A.E. for the platform extension and tie-in on the first phase of the West Nile Delta development of the Taurus and Libra fields by BP, offshore Egypt. Subsea 7 did not specify a precise contract value, but called the award “sizable” in the range of $50 million to $150 million. Subsea…
