Luxembourg – 24 July 2019 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable(1) contract to Seaway 7 for the Hornsea Two offshore wind farm project by Optimus Wind Ltd., a subsidiary of the Ørsted Group, for the installation of the entire inner array grid cable system.
The Hornsea Two offshore wind farm project is located approximately 90 kilometres off the Yorkshire coast within the UK sector of the North Sea. The offshore wind farm has a capacity of 1,386 MW and consists of 165 wind turbine generators, each with a capacity of 8.4 MW. The inner array grid cable system consists of 165 66kV copper-core submarine composite cables with a total length of more than 420km. In addition to the submarine cable installation works, Seaway 7 will also undertake a pre-installation submarine cable route survey, perform pre-installation boulder clearance activities and execute post-lay trenching services.
Project engineering will commence immediately and offshore activities are due to commence in 2021.
Steph McNeill, Subsea 7’s SVP Renewables and Heavy Lifting, said: “We look forward to continuing our collaborative relationship with Ørsted to install the entire inner array grid cable system on the Hornsea Two offshore wind farm project. This award follows on from our reliable performance and successful completion of the installation activities for the Hornsea One offshore wind farm project earlier this year.”
(1) Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150.
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Subsea 7’s Renewables and Heavy Lifting business unit is an experienced partner for the delivery of offshore wind farm projects and specialist heavy lifting and cable installation services, operating under the Seaway 7 brand.
Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
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Contact for media enquiries:
Angela Diergaarde
Communication & PR Manager
Subsea 7 Renewables & Heavy Lifting
Tel +31 6 1024 69 43
angela.diergaarde@subsea7.com
www.seawayheavylifting.com / www.seawayoffshorecables.com
Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Tel +44 20 8210 5568
isabel.green@subsea7.com
www.subsea7.com
Forward-Looking Statements: Certain statements made in this announcement may include ‘forward-looking statements’. These statements may be identified by the use of words like ‘anticipate’, ‘believe’, ‘could’, ‘estimate’, ‘expect’, ‘forecast’, ‘intend’, ‘may’, ‘might’, ‘plan’, ‘predict’, ‘project’, ‘scheduled’, ‘seek’, ‘should’, ‘will’, and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the ‘Risk Management’ section in the Group’s Annual Report and Consolidated Financial Statements 2018. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements.
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