Subsea 7

Latest Subsea 7 News

• Scope of work includes a six kilometre long control umbilical, connectors, engineering and project management.

• Engineering and project management will commence from our Aberdeen office in 2012, with offshore operations due to begin in 2014.

• The Board recommends shareholders approve a special dividend of $0.60 per share be paid to shareholders in July 2012.

• Schilling Robotics, LLC, experts in subsea systems, announced today the delivery of two (2) 150hp, 3,000m-rated HD ROV systems to Subsea 7.

• Subsea 7 S.A. announced today the award of a SURF contract valued at approximately $60 million from Santos Limited on the FletcherFinucane Development offshore Western Australia.

• The Underwater Centre, one of the leading subsea trials and test facilities in the UK has seen a 100% increase in companies using its trials and testing facilities this year.

• Subsea 7 has won a $75 million contract for subsea construction, umbilicals, risers and flowlines at Total E&P Atla field.
• Subsea 7 will be responsible for the management, engineering, procurement and installation of a seven kilometre flexible flowline on an existing pipeline between the Byggve and Hemidal fields.

• Subsea 7 wins five-year flexible pipelay contract by Petrobras in Brazil for the provision of a dedicated deepwater flexible pipelay vessel for operations offshore Brazil commencing H2 2014.
• As a result of this award, Subsea 7 will construct a newbuild flexible pipelay vessel.
• Total costs, upon delivery, are expected to be approximately $350 million and will be funded entirely from the Company's existing cash resources.

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