Subsea7 awarded contract in the US
Luxembourg – 4 April 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a sizeable1 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.”
- 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
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This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 4 April 2025 at 08:00 CET.
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