Subsea 7 contract offshore Netherlands confirmed
Luxembourg – 05 June 2020 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today confirmed the award of a substantial(1) contract by Vattenfall for the Hollandse Kust Zuid (HKZ) 1-4 offshore wind farm project. As previously announced on 23 April 2020, the contract was subject to the client’s final investment decision, which has now occurred. The contract will be recorded in backlog in the second quarter.
The contracted work scope includes the transport and installation of approximately 140 wind turbine monopile foundations and 315km of 66kV inner array grid cables. Offshore installation is scheduled for execution in 2021 and 2022 using Seaway 7's heavy lift, cable lay and support vessels.
(1) Subsea 7 defines a substantial contract as being between USD 150 million and USD 300 million.
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Subsea 7 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.
Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.
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