Subsea7 awarded contract offshore Mexico
Luxembourg – 14 March 2024 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a large(1) contract by Woodside Energy to provide subsea installation services for the Trion development. The field is located approximately 30 kilometres south of the US / Mexico border and 180 kilometres away from the Mexican coastline, at a water depth of 2,600 metres.
The project, which Woodside and Pemex are developing in partnership, involves a wet tree subsea system connected to an infield Floating Production Unit (FPU). Subsea7 will be responsible for the engineering, construction, and installation of the subsea umbilicals, risers, and flowlines, as well as the associated subsea architecture.
Project management and engineering will begin immediately from our offices in the U.S. and Mexico. Offshore activities are expected to take place between 2026 and 2027.
Craig Broussard, Vice President for Subsea7 Gulf of Mexico, said, “This award acknowledges our strong partnership with Woodside globally. With our experience in the Gulf of Mexico and proven track record, we can deliver innovative, reliable, fast-tracked solutions that create value for our clients. We are proud to be a part of Woodside and Pemex’s first deepwater development in Mexico.”
(1) Subsea7 defines a large contract as being between USD 300 million and USD 500 million.
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Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 20 8210 5568
[email protected]
Contact for media enquiries:
Ashley Shearer
Senior Communications Advisor
Tel +1-713-300-6792
[email protected]
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This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 14 March 2024 at 15:45 CET.
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