Luxembourg - 4 April 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY)
announced today the award of a sizeable(1) contract by Shell Offshore Inc. for
the Sparta deepwater development in the US.
The project involves the transportation and installation of a floating
production system (FPS) at Garden Banks block 959, which is located off the
southeastern coast of Louisiana at water depths of up to 1,635 metres.
Project management and engineering activities will begin immediately at
Subsea7's office in Houston, Texas, with offshore operations expected to start
in 2027.
Craig Broussard, Senior Vice President for Subsea7 Gulf of Mexico, said, "We are
proud to continue our collaboration with Shell in the US, building on past
projects, including the recent Vito development. We look forward to playing a
key role in the successful delivery of the Sparta project."
1. Subsea7 defines a sizeable contract as being between $50 million and $150
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
ir@subsea7.com
Contact for media enquiries:
Ashley Shearer
Communications Manager
Tel +1 713 300 6792
ashley.shearer@subsea7.com
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statements' (within the meaning of the safe harbour provisions of the U.S.
Private Securities Litigation Reform Act of 1995). These statements relate to
our current expectations, beliefs, intentions, assumptions or strategies
regarding the future and are subject to known and unknown risks that could cause
actual results, performance or events to differ materially from those expressed
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the use of words such as 'anticipate', 'believe', 'estimate', 'expect',
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'strategy' 'will', and similar expressions. The principal risks which could
affect future operations of the Group are described in the 'Risk Management'
section of the Group's Annual Report and Consolidated Financial Statements.
Factors that may cause actual and future results and trends to differ materially
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