Subsea7 Secures Major Contract Worth Up to $300 Million

Subsea7 has recently announced the signing of a significant contract valued between $150 million and $300 million with an undisclosed client. The offshore operations under this contract are set to commence in 2027.

The scope of work for Subsea7 includes the engineering and installation of flexible pipe, umbilicals, subsea equipment, and a mooring system. This substantial contract will require project management and engineering activities to begin immediately at the company’s office in Houston, Texas.

While specific details about the project and client remain confidential at this time, Subsea7 is gearing up to deliver high-quality services in line with its expertise in the subsea industry.

Merger Announcement with Saipem

Earlier reports also confirmed that Subsea7 has entered into a binding agreement with Italy’s leading engineering, drilling, and construction services provider, Saipem, for a proposed merger.

The merger will see the creation of a new entity through an EU cross-border statutory merger, with Subsea7 being absorbed into Saipem. Following the merger, Saipem will undergo a name change to Saipem7, reflecting the combined strengths and capabilities of both companies.

This strategic move is expected to enhance the overall competitiveness and service offerings of the newly formed company, positioning it as a key player in the global subsea and offshore engineering market.