Subsea 7 Swings to Net Cash and Posts $14 Billion Backlog as Saipem Merger Awaits Regulatory Green Light #Subsea7 posts a record $14bn backlog and swings to net cash as #freecashflow doubles to $1.2bn, while the transformative #Saipem merger awaits regulatory sign-off. #deepwater #offshorewind #projectcargo #maritime #energytransition

#Subsea7 posts a record $14bn backlog and swings to net cash as #freecashflow doubles to $1.2bn, while the transformative #Saipem merger awaits regulatory sign-off. #deepwater #offshorewind #projectcargo #maritime #energytransition

Gisement gazier de Goktepe renforce la production turque, Subsea7 à bord Principaux renseignements Subsea7, l’un des principaux fournisseurs d’ingénierie et de services offshore, a remporté un important contrat auprès du Turkish Petroleum Offshore Technology Centre (TP-OTC) pour le développement du champ gazier de Goktepe en mer Noire. Ce « gros » contrat, estimé entre 300 et 500 millions de dollars (entre environ 276 millions et 460 […]

Gisement gazier de Goktepe renforce la production turque, Subsea7 à bord #GisementGazier #Goktepe #Subsea7 #TPOTC #Energie

Goktepe-gasveld versterkt Turkse productie, Subsea7 aan boord Key takeaways Subsea7, een toonaangevende leverancier van offshore-engineering en -diensten, heeft een belangrijk contract binnengehaald van Turkish Petroleum Offshore Technology Centre (TP-OTC) voor de ontwikkeling van het Goktepe-gasveld in de Zwarte Zee. Dit “grote” contract, met een geschatte waarde tussen 300 miljoen en 500 miljoen dollar (ongeveer tussen 276 miljoen en 460 miljoen euro), vormt […]

Goktepe-gasveld versterkt Turkse productie, Subsea7 aan boord #Goktepe #Subsea7 #Turkije #Energie #Gasveld

Subsea 7 names Seaway 7 leader as next CEO ahead of Saipem merger Subsea 7 names Seaway 7 chief Stuart Fitzgerald as its new CEO to steer the offshore giant through a pivotal merger with Saipem. #Subsea7 #Saipem #OffshoreEnergy #ExecutiveSearch #ProjectCargo

Subsea 7 names Seaway 7 chief Stuart Fitzgerald as its new CEO to steer the offshore giant through a pivotal merger with Saipem. #Subsea7 #Saipem #OffshoreEnergy #ExecutiveSearch #ProjectCargo

Subsea7 hosts offshore vessel visit for Conversion Programme engineers in Amsterdam Subsea7 brings Conversion Programme engineers aboard Seven Oceanic in Amsterdam, offering first hand exposure to offshore operations, vessel coordination, and subsea project execution. #Subsea7 #OffshoreEnergy #ProjectLogistics #WorkforceDevelopment #MaritimeCareers

Subsea7 brings Conversion Programme engineers aboard Seven Oceanic in Amsterdam, offering first hand exposure to offshore operations, vessel coordination, and subsea project execution. #Subsea7 #OffshoreEnergy #ProjectLogistics #WorkforceDevelopment #MaritimeCareers

Subsea7 secures $150 to $300 million Chevron contract for Eastern Mediterranean subsea installation Subsea7 secures a 150 to 300 million dollar Chevron contract for Eastern Mediterranean subsea installation, reinforcing its regional presence and strategic partnership. #subsea #energy #maritime #projectcargo #logistics #Chevron #Subsea7

Subsea7 secures a 150 to 300 million dollar Chevron contract for Eastern Mediterranean subsea installation, reinforcing its regional presence and strategic partnership. #subsea #energy #maritime #projectcargo #logistics #Chevron #Subsea7

Chevron Hands Subsea7 a $150–300 Million Gorgon Stage 3 Contract as Australia’s Deepwater Stakes Rise Chevron awards Subsea7 a $150–300m Gorgon Stage 3 contract, pushing deepwater subsea work to 1,350m offshore Australia. A long lead time project with major implications for #Subsea7 #Chevron #Gorgon #OffshoreEnergy #ProjectLogistics

Chevron awards Subsea7 a $150–300m Gorgon Stage 3 contract, pushing deepwater subsea work to 1,350m offshore Australia. A long lead time project with major implications for #Subsea7 #Chevron #Gorgon #OffshoreEnergy #ProjectLogistics

Subsea7 Secures Third Polish Offshore Win as Seaway7 Lands BC-Wind Contract Seaway7 secures a new Ocean Winds contract for Poland’s BC-Wind project, driving #offshorewind momentum as #Subsea7 expands its Baltic footprint. A 2027 start signals rising demand for #logistics, #installationvessels, and project cargo

Seaway7 secures a new Ocean Winds contract for Poland’s BC-Wind project, driving #offshorewind momentum as #Subsea7 expands its Baltic footprint. A 2027 start signals rising demand for #logistics, #installationvessels, and project cargo

Subsea7 Secures Offshore Pipeline Project in Saudi Arabia Subsea7 secures a major contract with #Aramco for offshore #SaudiArabia, covering 106 km of pipelines, topside modifications, and hook-up works, with offshore execution set for 2027–2028........ #Subsea7 #Logistics

Subsea7 secures a major contract with #Aramco for offshore #SaudiArabia, covering 106 km of pipelines, topside modifications, and hook-up works, with offshore execution set for 2027–2028........ #Subsea7 #Logistics

Het offshoreschip Borealis van Subsea7 in de Heysehaven in Rotterdam

#offshoreschip #borealis #subsea7 #rotterdam #heysehaven #haven #offshore #schip #waalhaven

Meer op: www.ms-fotografie.nl

Namcor and Subsea7 in Agreement to Boost the Offshore Energy Sector [Namibia Economist] The National Petroleum Corporation of Namibia (NAMCOR) has announced a strategic partnership with global offshore energy contractor Subsea7, marked by the signing of a Memorandum of Understanding (MoU).

#Namcor #Subsea7 #OffshoreEnergy #EnergyPartnership #Namibia

Subsea 7 stock edges up on strong first quarter revenue Investing.com -- Shares of Subsea 7 (OTC:SUBCY) (OSLO:SUBC) inched up 0.4% following the release of their first quarter financial results, which showcased stronger-than-expected revenue and EBITDA, despite challenges such as significant planned vessel maintenance and negative foreign exchange effects. The company reported a net income miss and an increase in net debt contrary to consensus expectations, which anticipated a reduction. During the first quarter of 2025, Subsea 7’s net profit of $17 million fell short of the Bloomberg consensus estimate of $31 million, impacted by a foreign exchange loss of $28 million. However, the operating profit of $77 million exceeded expectations by $16 million. The company’s EBITDA of $236 million, representing a 15% margin, surpassed the consensus estimate of $224 million, with revenues climbing to $1.5 billion, marking a 10% year-over-year (YoY) increase. Subsea’s revenue growth was attributed to a 6% YoY increase in subsea revenue, reaching $1.3 billion, bolstered by high utilization levels of Pipe Laying Support Vessels (PLSVs) in Brazil and progress on projects such as Bacalhau, Mero 3&4, Búzios 8, and Búzios 9. The renewables sector also contributed significantly, with revenues up 37% YoY to $245 million. The company’s vessel utilization rate improved slightly to 75% in the first quarter of 2025, compared to 73% in the same period of the previous year. Despite the positive revenue and EBITDA results, Subsea 7 experienced a quarter-over-quarter (q/q) backlog decrease of 3% to $10.8 billion, after a first-quarter order intake of $879 million at a book-to-bill ratio of 0.6x. The backlog includes "$4.8 billion for execution in the remainder of the year, we have a high level of visibility for 2025." This, combined with the first quarter’s revenue, accounts for 90% of the midpoint of the company’s 2025 revenue guidance. The company’s post-IFRS16 net debt increased to $632 million from $602 million at the end of the fourth quarter of 2024, defying Bloomberg consensus expectations for a decrease to $493 million. This was after a negative free cash flow (FCF) of $25 million in the first quarter, primarily due to an "unfavourable movement of $163 million in net working capital." Subsea 7 reaffirmed its financial guidance for 2025, expecting revenue to be between $6.8 billion and $7.2 billion, with an adjusted EBITDA margin projected to be within the range of 18% to 20%. The company also anticipates margins to exceed 20% in 2026, based on its firm backlog of contracts and the prospects in its tendering pipeline. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Subsea7 strikes Namibia agreement - Upstream Online Subsea7 strikes Namibia agreement  Upstream Online

#Subsea7 #Namibia #OilAndGas #EnergyNews #Sustainability

Saipem en Subsea 7 kondigen fusie aan om energiereus te creëren Key takeaways Saipem, het Italiaanse olie- en gasbedrijf, heeft een fusieovereenkomst bereikt met het Noorse Subsea 7. Het Italiaanse bedrijf meldde dit in een statement. De nieuwe entiteit zal jaarlijks ongeveer 20 miljard euro aan omzet genereren. De…

Saipem en Subsea 7 kondigen fusie aan om energiereus te creëren #fusie #energie #Saipem #Subsea7 #oliesector

Saipem et Subsea 7 annoncent leur fusion pour créer un géant de l’énergie Principaux renseignements Saipem, la société italienne spécialisée dans le pétrole et le gaz, a conclu un accord de fusion avec la société norvégienne Subsea 7. L’entreprise italienne a annoncé cette nouvelle dans un communiqué. La nouvelle entité…

Saipem et Subsea 7 annoncent leur fusion pour créer un géant de l’énergie #Saipem #Subsea7 #Fusion #Energie #Pétrole

Hear the sound of our engines roar on our custom-built FPV drone specifically made to shoot the Flair Gas sustainability initiative CSR video series in Southampton, UK.
#videoproduction #fpv #drone #subsea #marine #subsea7 #engineering #tech #industrial

Salamander Offshore Wind lancia un appello per le innovazioni dei fornitori Salamander Offshore Wind Farm, la joint venture tra Ørsted, Simply Blue Group e Subsea7, ha aperto la fase 2 del bando per l’innovazione dei fornitori. Il progetto, che comprende uno sviluppo…

#Salamander #Offshore #Wind Farm, joint venture tra #Ørsted, #SimplyBlue e #Subsea7, ha lanciato appello all' #innovazione dei fornitori. Progettata per consentire alla filiera scozzese di prepararsi a progetti in scala con sperimentazione di nuove tecnologie legate all' #eolico galleggiante