Subsea 7 announced today that Subsea Integration Alliance(1) anticipates final confirmation of a major(2) contract award by Equinor in the near future.

If confirmed, it is envisaged that the project work scope will cover engineering, procurement, construction and installation (EPCI) of the subsea pipelines (SURF) and production systems (SPS) for the Bacalhau field, located 185 kilometres from the coast of the state of São Paulo, Brazil. Offshore activities would take place from 2022 to 2023.

It is expected that the contract will be recorded in backlog in the second quarter 2021.

(1) Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea 7 and OneSubsea®, the subsea technologies, production and processing systems division of Schlumberger, bringing together field development planning, project delivery and total lifecycle solutions under an extensive technology and services portfolio. As one team, Subsea Integration Alliance amplifies subsea performance by helping customers to select, design, deliver and operate the smartest subsea projects. This eliminates costly revisions, avoids delays and reduces risk across the life of field.

(2) Subsea 7 defines a major contract as being one where Subsea 7’s share of revenue is over USD 750 million.

About Subsea 7

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. Subsea 7 is listed on the Oslo Bors (SUBC).

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.