Subsea 7 Awarded Substantial Contract

Subsea 7 announced the award of a substantial1 contract that will be recorded in the backlog of our Subsea and Conventional business unit in the first quarter of 2022.

The award, made to a consortium including Subsea 7, comprises engineering, procurement, construction, and installation (EPCI) of offshore facilities, subsea pipelines, and associated infrastructure.

Project management and engineering will commence immediately, and offshore activities are scheduled to commence in Q3 2024.

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

⁽¹⁾ Subsea 7 defines a substantial contract as being between USD 150 million and USD 300 million (Subsea 7’s share).