Subsea7 awarded contract offshore Mexico
14 Marzo 2024 - 8:35AM
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.
*******************************************************************************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.
*******************************************************************************
Contact for investment community
enquiries:Katherine TonksInvestor Relations DirectorTel
+44 20 8210 5568ir@subsea7.com
Contact for media enquiries:Ashley
ShearerSenior Communications AdvisorTel +1-713-300-6792
ashley.shearer@subsea7.com
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This document may contain ‘forward-looking statements’ (within the
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include (but are not limited to): (i) our ability to deliver fixed
price projects in accordance with client expectations and within
the parameters of our bids, and to avoid cost overruns; (ii) our
ability to collect receivables, negotiate variation orders and
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companies, which is affected by fluctuations in the price of, and
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and price fluctuations in the markets and businesses in which we
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damage, personal or property damage and business interruptions
caused by adverse weather; (xiv) equipment or mechanical failures,
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for failure to meet project completion requirements; (xv) the
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technology, cyber security or data security breaches; (xvii) global
availability at scale and commercially viability of suitable
alternative vessel fuels; and (xviii) the effectiveness of our
disclosure controls and procedures and internal control over
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to control or predict. Given these uncertainties, you should not
place undue reliance on the forward-looking statements. Each
forward-looking statement speaks only as of the date of this
document. We undertake no obligation to update publicly or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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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