Profile: Subsea 7 SA (SUBCY.PK)
7 Mar 2014
Subsea 7 S.A., formerly Acergy S.A., incorporated in 1993, is a seabed-to-surface engineering, construction and services contractor for the offshore energy industry worldwide. It provides integrated services and plans, designs and delivers projects. During the fiscal year ended November 30, 2010 (fiscal 2010), the Company’s operations were managed through five geographical segments that were combined into Territory 1 and Territory 2. Its segments include North Sea, Mediterranean and Canada (NSMC), Africa and Gulf of Mexico (AFGoM), Brazil (BRAZIL), Asia Pacific and Middle East (APME), including SapuraAcergy, and Corporate (CORP), including NKT Flexibles I/S (NKT Flexibles) and Seaway Heavy Lifting (SHL). In April 2012, NKT Holding A/S and the Company closed and completed a conditional agreement concerning the sale of NKT Flexibles.
The Company divides its business into principal service capabilities: subsea, umbilicals, risers and flowlines (SURF), conventional and conventional refurbishment, life-of-field, i-tech, veripos and renewables. During fiscal 2010, it generated revenue from the discontinued operations arising from the Mexilhao Project in Brazil. As of November 30, 2010, this project was completed. During fiscal 2010, it acquired Antares, Pertinacia, Polar Queen projects. On January 7, 2011, the Company acquired 100% interest in Subsea 7 Inc.
Acergy Northern Europe and Canada (NEC) include activities in Northern Europe and Eastern Canada. This segment had offices in Aberdeen, Scotland, the United Kingdom; Stavanger, Norway; St Johns, Canada, and Moscow, Russia. Ongoing projects in the Acergy NEC segment consists of Asgard Gas Transfer, Deep Panuke, Gjoa Umbilical Riser, Medway Development and Nini East Development. Acergy Asia and Middle East (AME) include activities in Asia Pacific, India and the Middle East. It had its offices in Singapore, Beijing, China and Perth, Australia. This segment also included the joint venture SapuraAcergy. Ongoing projects in the Acergy AME segment include Al-Shaheen Block 5 SPM2, Bluewater Al-Shaheen, Dai Hung and the Devil Creek Development Project.
Acergy Africa and Mediterranean (AFMED) include activities in Africa and Mediterranean. This segment had its office in Suresnes, France and also operated fabrication yards in Nigeria, Angola and Gabon. It also included the associates Dalia Floater Angola SNC, TSS Dalia SNC (Dalia) and Global Oceon Engineers Nigeria Limited (Oceon). Acergy North America and Mexico (NAMEX) include activities in the United States, Mexico, Central America and Western Canada, and had its office in Houston, Texas, the United States. Ongoing projects in the Acergy NAMEX segment include Hess Conger, MEGI and Perdido. Acergy South America (SAM) includes activities in South America and the islands of the southern Atlantic Ocean and had its office in Rio de Janeiro, Brazil and operations in Macae, Brazil. Ongoing projects in the Acergy SAM segment include Frade, PRA-1, Roncador Manifolds and Roncador Manifolds II.
Acergy Corporate (CORP) segment include activities that served more than one segment. These included marine assets, which have global mobility, including construction and flow line lay support ships, ROVs and other mobile assets that are not allocated to any one segment; management of offshore personnel; captive insurance activities, and management and corporate services provided for the Company’s businesses, including design engineering, finance and legal departments. It also included the joint ventures NKT Flexibles and SHL.
Subsea, Umbilicals, Risers and Flowlines (SURF)
This consists of the engineering, fabrication, procurement, installation and construction work relating to oil and gas fields that are developed subsea, in which the production wellhead is on the seabed. This includes large multi-year, engineering, procurement, installation and commissioning (EPIC) projects encompassing pipelay, riser and umbilical activities of a complete field development, tieback projects, including pipelaying, umbilical installation and, in some cases, trenching or ploughing, to connect a new or additional subsea development to an existing production facility. The installations of jumpers and spool pieces, as well as hot-tapping, including hyperbaric welding, are also SURF activities. This capability also includes construction and diving support ship charters and rental of equipment, including construction support remotely operated vehicle (ROVs).
Conventional and Conventional Refurbishment
Conventional consists of engineering, construction and installation activities relating to shallow water platforms attached to the seabed and their associated pipelines. Conventional projects include shallow water activities and technology, which includes under long-term contracts or EPIC projects. Conventional activities include the design, construction and installation of fixed platforms. The Company also provides, in some locations, local content, including the fabrication of platform jackets and topsides.
The Company provides Conventional type projects in West Africa, as well as in Asia Pacific through its joint venture SapuraAcergy. Conventional Refurbishment consists of a range of maintenance and refurbishment, including platform and pipeline refurbishment, relating to shallow water platforms. It also provides, in some ocations, local content, including the pre-fabrication of refurbishment components.
Life-of-Field projects include inspection, maintenance and repair (IMR) and Survey. The Company provides a range of subsea IMR services to keep oil and gas fields worldwide producing at optimum capacity. Its services include platform surveys, debris removal and pipeline inspections using both divers and/or ROV inspection on producing oil and gas field infrastructure, as a regular activity throughout the life of the offshore field. The Company has a number of ongoing long-term maintenance contracts with operators, and also provides on-demand, call-out services where required.
The Company provides support for both external clients and internal projects in the fields of construction support, platform and pipeline inspection and seabed mapping using specialised Survey vessels and Survey ROVs. The construction support activities include pre-lay, as-laid and as-trenched surveys, spool metrology, deepwater positioning and light installation works. Platform inspection is performed both underwater and on topsides.
i-Tech, which is a division of The Company, is a provider of ROVs and remote intervention tooling services to the exploration and production industry worldwide. The Company operates an advanced fleet of more than 70 ROV systems.
Veripos, which is a division of Subsea 7, provides navigation and positioning services to the offshore industry. Its products and services, which include training programmes, are used by professionals in key areas of the offshore industry, including seismic exploration, survey and construction, DP Marine and DP Drilling.
Renewables consists of the project management, engineering and construction services to support offshore developments in the renewables industry worldwide. The Company focuses on energy from naturally replenished resources, such as wind, sunlight, rain, tides and geothermal heat.
Subsea 7 SA
200 Hammersmith Road
LONDON W6 7DL