Based on end-2024 financial results, the merged company will have approximately EUR 21 billion in revenues and more than EUR 2 billion in EBITDA, and will command a backlog of around EUR 43 billion as of the end of Q1 2025. Annual free cash flow is expected to exceed EUR 800 million.
Australia’s offshore regulator Nopsema has slapped Subsea7 with an improvement notice relating to its multipurpose vessel Seven Pegasus, after some workers onboard contacted Nopsema stating that fatigue is affecting their work.
Subsea7 has won a “substantial” contract for a subsea tieback development in the US Gulf of Mexico for an undisclosed client.
Exact terms of the deal were not revealed, though the Luxembourg-based subsea contractor deems a contract “substantial” when its value falls between $150 million and $300 million.
SLB (NYSE: SLB) today announced the award of an integrated engineering, procurement, construction and installation (EPCI) contract by bp to its OneSubsea™ joint venture and Subsea7 for the Murlach development (formerly Skua field), 240 kilometers east of Aberdeen in the UK North Sea.
Subsea7 has issued updates on its offshore oil and gas and wind projects in its latest results statement.
Subsea7 has been awarded four long-term day-rate contracts by Petrobras for pipe-laying support vessels (PLSVs), Subsea7 announced on Monday.