Luxembourg – 9 October 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a sizeable 1 contract for a subsea tieback development in the US Gulf of Mexico.
Subsea7 will be responsible for transporting and installing the flowline, umbilical, and associated subsea components for the tieback. Project management and engineering work will begin immediately at Subsea7’s office in Houston, Texas, and offshore activity is expected to start in 2025.
Craig Broussard, Vice President for Subsea7 Gulf of Mexico, said: “Our strategy of early engagement and close collaboration with clients allows us to approach projects with an open mind and a deep understanding of client needs. This helps us explore innovative, cost-effective ways to deliver optimized energy solutions.”
- Subsea7 defines a sizeable contract as being between $50 million and $150 million
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Subsea7 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.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
ir@subsea7.com
Contact for media enquiries:
Ashley Shearer
Communications Manager
Tel +1-713-300-6792
ashley.shearer@subsea7.com
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This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 9 October 2024 at 18:20 CET.
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