Subsea 7 Company News

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Schlumberger and Subsea 7 Share Bacalhau Contract
Equinor has awarded a Schlumberger-Subsea 7 partnership a contract for its Bacalhau project. IMAGE SOURCE: Schlumberger
8:00 PM EST | June 15, 2021
Subsea 7 Contract Worth Up to $150 Million
Subsea 7 reported Friday that it has won a “sizeable” contract. PHOTO SOURCE: Subsea 7
7:00 PM EST | March 11, 2021
Morocco Subsea Project Gets on Fast Track
The deal will facilitate front-end design, engineering, procurement, construction, installation, and operations of the Anchois project.
7:00 PM EST | February 23, 2021
Subsea 7 Wins Angola Contract from Chevron Unit
A wholly owned subsidiary of Chevron has awarded Subsea 7 a contract for the Sanha Lean Gas Connection (SLGC) project offshore Angola.
7:00 PM EST | January 24, 2021
Subsea 7 Director Stevens Passes Away
Allen Stevens' career in the shipping industry spanned decades.
7:00 PM EST | January 12, 2021
$455MM in Brazil Contracts Go to Oilfield Services Trio
First oil from Bacalhau is projected for 2024. PHOTO SOURCE: Equinor
7:00 PM EST | November 09, 2020
Offshore Norway Project to Use Pioneering Tech
Aker BP awarded Subsea 7 a contract for the Hod Field Development Project in the North Sea. IMAGE SOURCE: Subsea 7
8:00 PM EST | June 30, 2020
Subsea 7 Awards GOM Umbilicals Contract
Subsea 7 has awarded Aker Solutions a contract to deliver umbilicals for Murphy Exploration and Production Co. USA's King's Quay development in the Gulf of Mexico. PHOTO SOURCE: Aker Solutions
8:00 PM EST | June 10, 2020
Subsea 7 Awarded Gulf of Mexico Contracts
The contracts include subsea installation services in the Gulf of Mexico's Anchor field.
8:00 PM EST | April 14, 2020
Equinor Plans to Power Offshore Platforms with Wind
A rendering of the Hywind Tampen floating wind farm between the Gullfaks and Snorre licenses in the North Sea. Illustration copyright Equinor AS
8:00 PM EST | April 08, 2020
Schlumberger Unit and Subsea 7 Win Pioneering Brazil Contract
Offshore installation for Brazil's first integrated SPS and SURF project could start in two years. IMAGE SOURCE: Equinor
7:00 PM EST | January 30, 2020
Offshore Contractors Primed For a Busy 2020
Some industry insiders have doubts about whether there is sufficient contractor capacity to deal with the expected volume of business.
7:00 PM EST | January 07, 2020
Subsea 7 Gets New CEO
The company also announced other changes to its executive management team.
7:00 PM EST | January 01, 2020
Offshore Australia Project Marks Step-Change
Subsea 7 and Schlumberger's OneSubsea will deliver a new subsea flowline to an existing natural gas pipeline. PHOTO SOURCE: Subsea Integration Alliance
7:00 PM EST | January 15, 2019
North Sea Operators Extend Subsea 7 Deal
Subsea 7 wins extension to its Diving Support Vessel initiative (DSVi) framework agreement.
7:00 PM EST | November 25, 2018
Oceaneering Sees Reason for More Offshore Confidence
Oceaneering and Subsea 7 will supply an umbilical and flying leads for Shell's deepwater Vito development.
8:00 PM EST | September 09, 2018
Subsea 7 Says Could Change Offer If McDermott Cooperates
Subsea 7 is open to potentially sweetening its $2B offer for McDermott if the US company would work with it to identify additional benefits of a deal, Subsea says.
8:00 PM EST | April 24, 2018
Saipem Scouting Around as Subsea 7 Bid Makes Waves
Italian oil services group Saipem is looking round for growth opportunities.
8:00 PM EST | April 23, 2018
Subsea 7 Shares Surge On Special Dividend, Q4 Earnings Beat
Subsea 7 reports forecast-beating core earnings and announces plans to pay a special dividend, sending its shares surging to the highest level since 2013.
7:00 PM EST | March 01, 2017
Subsea 7 Takes Delivery of New Vessels
Oilfield services company Subsea 7 has taken delivery of 2 new vessels, completing a "substantial and targeted fleet investment program" that has added 6 new-build vessels to the Subsea 7 fleet since 2014.
7:00 PM EST | February 01, 2017
Report: Oil, Gas Companies in Aberdeen Face Tax 'Bombshell'
Oil and gas companies in the North-East risk going bankrupt, or having to make further job cuts, due to a new framework for property rates which will result in a multimillion dollar tax bombshell.
7:00 PM EST | December 18, 2016
Subsea 7 Secures Services Contract with Woodside Energy
Oilfield services company Subsea 7 S.A. secures a sizeable contract with Woodside Energy Ltd for the Greater Western Flank Phase 2 Project, offshore Australia.
7:00 PM EST | December 01, 2016
Subsea 7 Secures Services Contract Offshore Egypt
Oilfield services firm Subsea 7 S.A. secures a "substantial" services contract offshore Egypt, worth between $150-300 million, from Pharaonic Petroleum Company.
8:00 PM EST | October 19, 2016
Exova Secures Testing Contract with Subsea 7
Global testing company Exova agrees a new 2-year framework agreement with Subsea 7 to provide testing services in support of its pipeline welding activities.
8:00 PM EST | October 09, 2016
Det Norske Increases Production Guidance for 2016
Norway-focused exploration and production company Det norske oljeselskap ASA increases its production guidance for 2016.
8:00 PM EST | September 13, 2016
Subsea 7 Forms Development Alliance with Det Norske, Aker Solutions
Subsea 7 S.A. forms a development alliance with Det norske oljeselskap and Aker Solutions to cut costs.
8:00 PM EST | September 12, 2016
Subsea 7 Acquires Swagelining Limited
Subsea 7 S.A. acquires Swagelining Limited in an effort to further expand its existing polymer pipeline technology interests.
8:00 PM EST | August 09, 2016
Subsea 7 to Cut 1,200 Jobs By Early 2017
Subsea 7 S.A. will cut 1,200 jobs by early 2017, according to a company statement released Wednesday.
8:00 PM EST | June 21, 2016
Norway Strike Threat Increases as Parties Fail to Find Agreement
The threat of strike action among 6,000 oil service worker employees in Norway increases as unions and energy company representatives fail to settle wage disputes.
8:00 PM EST | June 07, 2016
Subsea 7 Secures Services Contract Offshore UK
Subsea 7 secures an engineering, procurement, instalation and commissioning contract from Apache North Sea, worth between $50 and $150 million, as part of the Callater field development.
8:00 PM EST | April 24, 2016
Norway's Oil Industry Seeks Cost Cuts from Streamlined Engineering
Oil firms and their suppliers must redouble cost cutting efforts by standardizing products, according to Norway's energy minister and industry executives.
8:00 PM EST | April 06, 2016
Subsea 7 Confirms Almost 4,000 Jobs Cut since 2014
Subsea 7 confirms in its 2015 results that it has cut almost 4,000 positions since 2014 in an effort to cope with the declining oil price.
7:00 PM EST | March 01, 2016
Subsea 7 Awarded Contract Offshore Egypt
Subsea 7 secures a contract worth over $750M from BP, and its partner DEA, for the development of the Giza, Fayoum and Raven subsea fields offshore Alexandria, Egypt.
7:00 PM EST | February 25, 2016
Aker Posts Lower Profits, Cuts Workforce Salary
Aker Solutions becomes the latest oil and gas services company to announce a fresh round of cuts amid the lower oil price.
7:00 PM EST | February 11, 2016
Subsea 7, National Oilwell Varco Secure Sea Lion FEED Contracts
Subsea 7 and National Oilwell Varco secure services contracts in connection to the Sea Lion development, which is located offshore the Falkland Islands.
7:00 PM EST | February 10, 2016
Oil, Gas Service Companies Win Several North Sea Contracts
Aker Solutions, Subsea 7, Technip Norway, Ocean Installer, Hereema Fabrication Group and Aibel secure work in the North Sea.
7:00 PM EST | February 02, 2016
Reduced Workload Sees Subsea 7 3Q Revenue Dip
Subsea 7's 3Q revenue of $1.2 billion was $702 million lower than the prior year quarter, due to a reduced workload as a result of the sustained downturn in oil company expenditure.
7:00 PM EST | November 10, 2015
Centrica Agrees to Award NCS Services Contracts to Aibel, Subsea 7
Centrica Energy agrees to award services contracts to Aibel and Subsea 7 for projects on the Norwegian Continental Shelf.
8:00 PM EST | October 29, 2015
Subsea 7 Secures END-3 Services Contract
Subsea 7 S.A. secures a services contract with Pharaonic Petroleum Company S.A.E. for the development of the East Nile Delta Phase 3 Project (END-3), offshore Egypt.
8:00 PM EST | October 13, 2015
Magma Global Secures Funding to Support Growth Plans
Magma Global raises $60 million from Strategic Investment Capital Partners, and existing investors, to support its growth plans.
8:00 PM EST | October 04, 2015
Magma Signs Development Agreement with BP, Subsea 7
Magma Global signs a joint development agreement with BP and Subsea 7, which will target the company's 6 to 12 inch m-pipes for risers and jumper systems for deepwater environments.
8:00 PM EST | September 13, 2015
Statistics Norway Expects Oil Prices to Hit $60 Per Barrel in 2018
Statistics Norway expects oil prices to "remain low going forward", before increasing to around $60 per barrel in 2018.
8:00 PM EST | September 02, 2015
Subsea 7 Awarded $150M SURF Contract for Culzean
Subsea 7 is awarded a subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the Culzean development, located in the UK North Sea.
8:00 PM EST | August 31, 2015
Employment in Norwegian Oil, Gas Sector
Rigzone takes a look at employment developments in Norway during 2015, highlighting the reasons behind some of the largest cutbacks in the region and examining what hope there is for the area in the future.
8:00 PM EST | August 23, 2015
European Oilfield Services: Light at the End of the Tunnel?
Rigzone takes a look at recent quarterly statements and strategy updates from European oilfield services firms.
8:00 PM EST | August 13, 2015
Subsea 7 to Cut Costs by $550 Million, Increases Vessel Reduction Plan
Subsea 7 will cut costs by approximately $550 million by early 2016, confirming plans to axe employees and vessels first announced in May this year.
8:00 PM EST | July 28, 2015
Ophir Awards Upstream FEED Deals for E.Guinea's Fortuna FLNG Project
Ophir Energy awards upstream front end engineering and design contracts for the Fortuna gas project in Equatorial Guinea to two consortia comprising McDermott Marine Construction-GE Oil & Gas and Subsea 7-Aker Solutions.
8:00 PM EST | July 08, 2015
Subsea 7 Secures Emergency Pipeline Repair Contracts Off Australia
Subsea 7 secures four contracts from Chevron and Inpex for the engineering, procurement and construction of an emergency pipeline repair system offshore Australia.
8:00 PM EST | July 02, 2015
Subsea 7 to Cut Workforce by a Fifth, Reduce Fleet
Oil services firm Subsea 7 is to cut its workforce by almost 20 percent and reduce its 39-strong fleet of vessels by up to 11 ships.
8:00 PM EST | May 11, 2015
Subsea 7 Defies Oil Sector Gloom with Strong Results
Oilfield services firm Subsea 7 reports strong earnings and orders in spite of warnings about persistent weakness in the offshore market.
8:00 PM EST | April 28, 2015