Subsea 7 S.A. 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.

About Subsea7

Subsea7 (Oslo Børs: SUBC, ADR: SUBCY) is a global leader in the delivery of offshore projects and services for the evolving energy industry. We create 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.