Subsea 7 Takes Steps to Allow Vessels to be Used in US Waters

UK oilfield services firm Subsea 7 announced Tuesday that it has taken measures that will see its vessels capable of being uses for energy development-related projects in US waters. The measures are designed to enable the company to meet requirements applicable to non-US companies operating vessels in US waters.

Included within requirements is that Subsea 7's board of directors, which has ultimate control over the firm's vessels, cannot under any circumstances be itself controlled by a majority of US citizens. Consequently, the board has had to reduce the number of US directors on its board from three to one.

This has meant that two directors who are both US citizens – Robert Long and Allen Stevens – have agreed to stand down as directors and have resigned with immediate effect. The two men will remain members of the Subsea 7's compensation committee as well as other committees.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Shell to Sell Gabon Onshore Assets for... (Mar 24)
 -  Industry Pros Gather for Offshore Achi... (Mar 24)
 -  Statoil Makes North Sea Oil, Gas Disco... (Mar 24)
 -  Report: Hiring Managers See Salaries S... (Mar 23)
 -  Repsol Chooses Atlas for Onshore, Offs... (Mar 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Sr Recruiter Mozambique Project Lead
Expertise: HR - General
Location: The Woodlands, TX
 
Equipment Operator
Expertise: Cementing|Coil Tubing|Maintenance Technician
Location: El Reno
 
Account Manger - Levelland/Lubbock, TX Area
Expertise: Customer Service|Production Operator|Well Servicing & Testing
Location: Levelland, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours