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Subsea 7

From Wikipedia, the free encyclopedia
Luxembourgish-domiciled subsea engineering, construction, and services company
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Subsea 7 S.A.
Seven Borealis pipelay and heavy lift vessel at anchor off Limassol, Cyprus.
Company typeSociété Anonyme
OSE:SUBC
IndustryEngineering
PredecessorAcergy S.A.
Subsea 7, Inc
Founded2002
HeadquartersSutton, Greater London,United Kingdom[1]
Area served
Worldwide
Key people
Kristian Siem(Chairman), John Evans(CEO)
ServicesOffshoreengineering,construction, andproject management for theenergy industry
RevenueIncrease US $6.297 billion(2013)[2]
Decrease US $573.4 million(2013)[2]
Decrease US $439.9 million(2013)[2]
Total assetsIncrease US $10.357 billion(2013)[2]
Total equityIncrease US $6.612 billion(2013)[2]
Number of employees
9,800(2015)
Subsidiaries
Websitewww.subsea7.com

Subsea 7 S.A. (stylised asSubsea7) is aLuxembourgishmultinational servicescompany involved insubseaengineering andconstruction serving the offshoreenergy industry.[4] The company is registered inLuxembourg with its headquarters inLondon.[5] Subsea 7 delivers offshore projects and provides services for the energy industry.

Subsea7 makes offshore energy transition feasible through working on lower-carbon oil and gas and by providing services for the growth of renewables and other emerging energy industries.

History

[edit]

The company was formed by the January 2011merger of two predecessor companies,Acergy S.A. and Subsea 7, Inc.[6][7]

Acergy was founded in 1970 as Stolt Nielsen Seaway, a division of theNorwegianStolt-Nielsen Group offering divers for theexploration of theNorth Sea. After a series of acquisitions, includingComex Services ofFrance in 1992 andHouston,Texas–based Ceanic Corporation in 1998, the company changed its name to Stolt Offshore in 2000. Five years later Stolt-Nielsenspun out the company as an independent business listed on theOslo Stock Exchange andNASDAQ. The firm renamed as Acergy in March 2006.

Subsea 7, Inc. was the result of a series of mergers between DSND Offshore AS,Halliburton Subsea, Subsea Offshore and Rockwater over an extended period, with Rockwater and SubSea merging in 1999 to form Halliburton Subsea, and the resulting company operating as a 50/50 joint venture with DSND in 2002 with the name Subsea 7.[8] Halliburton exited the joint venture in November 2004. The company was listed on theOslo Stock Exchange in August 2005 following itsrestructuring the same year.[8]

On 21 June 2010 the combination of Acergy S.A. and Subsea 7 Inc. was announced and was completed on 7 January 2011. The new entity took the Subsea 7 name while retaining Acergy's Luxembourgdomicile and operational headquarters in London.[9] The chairman andchief executive roles were filled by Kristian Siem and Jean Cahuzac, who had previously held the same roles at Subsea 7 and Acergy respectively.

On 24 July 2025 the signing of Subsea7 andSaipem merger agreement was announced.[10] The new entity will take the name Saipem7. Saipem7 will remain incorporated inItaly and headquartered inMilan, and will have its shares listed on both theMilan and Oslo stock exchanges.

Presence

[edit]
The principal executive office inSutton, London

The currentheadquarters for Subsea 7 is located at 40 Brighton Road,Sutton, London.[1]

Subsea 7 global offices
AfricaAmericasAsia/OceaniaEurope
 Angola Brazil Australia France
EgyptMexicoIndonesiaLuxembourg
GhanaUnited StatesMalaysiaNorway
Mozambique CanadaRussiaPortugal
NigeriaSaudi ArabiaUnited Kingdom
Singapore
United Arab Emirates
Turkey
Azerbaijan

See also

[edit]

References

[edit]
  1. ^ab"Subsea 7 Website". Subsea 7. Retrieved13 April 2017.
  2. ^abcde"Annual Report 2013"(PDF). Subsea 7. Retrieved7 September 2013.
  3. ^abc"Subsea7 Group".subsea7 Corporate2018. Retrieved2024-11-16.
  4. ^Subsea 7 Career & Training
  5. ^Website, Subsea7."About Us".subsea7 Corporate2018. Retrieved13 April 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)
  6. ^"Acergy and Subsea 7 Agree to Combine"(PDF).Subsea 7: 5.
  7. ^"Anticipated acquisition by Acergy SA of Subsea 7 Inc"(PDF).Office of Fair Trading: 29 – viaGovernment of United Kingdom.
  8. ^ab"Company evolution". Subsea 7 website. Retrieved2009-05-13.
  9. ^Bhatia, Meera; Stigset, Marianne (21 June 2010)."Acergy Agrees to Acquire Subsea 7 for $2.5 Billion".Bloomberg Businessweek.Bloomberg. Archived fromthe original on July 10, 2010. Retrieved7 July 2010.
  10. ^"Saipem and Subsea7 announce signing of the Merger Agreement"(PDF).Subsea 7: 9.

External links

[edit]
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