Subsea7 awarded major contract

[escveritas]

12 May 2023

Subsea 7 S.A. today announced the award of a contract for a two-phase subsea development. The first phase has been recorded in the backlog of the Subsea and Conventional business unit in the second quarter of 2023. The second phase, expected in 2024, remains subject to sanction by the client.

The initial scope of work to be executed by Subsea7 comprises the engineering, procurement, construction, and installation of approximately 37 kilometres of infield flowlines, 47 kilometres of control umbilicals and associated subsea equipment in water depths of 2,000 metres. The contract also includes additional FEED studies and options to further extend the scope of work.

Project management and engineering will be led by Subsea7’s local office and offshore activities relating to the initial scope are expected between Q2 2025 and Q3 2025.

No further details are disclosed at this time due to contractual obligations.

Note: Subsea7 defines a major contract as being one where Subsea7’s share of revenue is over USD 750 million.