Presentation

Subsea 7 is a subsea installation and construction company. The company’s history traces back to the merger between DSDN’s and Halliburton’s subsea segments in 2002. In 2004, Halliburton divested its 50% stake and the company was listed on Oslo Stock Exchange the next year. In 2011, the company merged with Acergy and transformed into one of the world’s largest subsea construction companies. Subsea 7 is headquartered in London, UK.

The company divides its operational segments into 1) Subsea and Conventional and 2) Renewables. The company’s greater share of income originates from the subsea and conventional business, and it has successfully undertaken 1,000 projects over the last 20 years. Subsea 7’s current fleet consists of 29 vessels as of Q2’21. In addition, the Subsea Integration Alliance provides a fully integrated subsea solution through a partnership between Subsea 7 and One Subsea. Life of Field operates under the i-Tech 7 brand and is a leading expert in inspection, repair and maintenance (IRM). The Renewables and Heavy Lifting segment offers EPCI and T&I services for offshore wind farms, and heavy lifting and cable-lay services for offshore oil and gas developments, operating under the Seaway 7 brand.

In July this year, Subsea 7 announced that their Renewable business unit will be combined with OHT creating a new pureplay offshore wind EPCI contractor, headquartered in Oslo. The new company is intended to retain OHT’s Euronext Growth listing and will be renamed Seaway 7