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Subsea 7 SA (SUBC.OL)

SUBC.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Subsea 7 Q2 Adjusted EBITDA $171 Million, Above Estimates
Thursday, 25 Jul 2019 02:00am EDT 

July 25 (Reuters) - Subsea 7 SA ::REG-SUBSEA 7 S.A. ANNOUNCES SECOND QUARTER AND HALF YEAR 2019 RESULTS.SUBSEA 7 Q2 REVENUE $958 MILLION (REFINITIV POLL $1.08 BILLION).SUBSEA 7 Q2 ADJUSTED EBITDA $171 MILLION (REFINITIV POLL $166 MILLION).SUBSEA 7 Q2 NET PROFIT $24 MILLION (REFINITIV POLL $26.77 MILLION).SUBSEA 7 BACKLOG AT END Q2 $4.59 BILLION VERSUS $5.19 BILLION AT END Q1.THE PACE OF AWARDS IS EXPECTED TO INCREASE OVER THE NEXT 12 MONTHS AS CLIENTS PROGRESS THEIR INVESTMENT DECISIONS ON THE FIRST PHASE OF GREENFIELD PROJECTS TO BE SANCTIONED SINCE THE DOWNTURN.DEMAND FOR IRM SERVICES IS STEADY, AND MARKET AWARD ACTIVITY FOR CONVENTIONAL PROJECTS IN THE MIDDLE EAST IS STRONG.  Full Article

Subsea 7 Gets Contract Offshore UK
Wednesday, 24 Jul 2019 02:00am EDT 

July 24 (Reuters) - Subsea 7 SA ::REG-SUBSEA 7 AWARDED CONTRACT OFFSHORE UK.PROJECT ENGINEERING WILL COMMENCE IMMEDIATELY AND OFFSHORE ACTIVITIES ARE DUE TO COMMENCE IN 2021..SUBSEA 7 DEFINES A SIZEABLE CONTRACT AS BEING BETWEEN USD 50 MILLION AND USD 150..  Full Article

Subsea 7 Awarded Contract Offshore Norway
Wednesday, 10 Jul 2019 02:00am EDT 

July 10 (Reuters) - Subsea 7 Sa ::REG-SUBSEA 7 AWARDED CONTRACT OFFSHORE NORWAY.ANNOUNCED AWARD OF A SIZEABLE CONTRACT BY EQUINOR.OFFSHORE INSTALLATION CAMPAIGNS ARE SCHEDULED FOR 2020, 2021 AND 2022.SAYS SUBSEA 7 DEFINES A SIZEABLE CONTRACT AS BEING BETWEEN USD 50 MILLION AND USD 150 MILLION.  Full Article

Subsea 7 Awarded Contract Offshore Norway
Thursday, 13 Jun 2019 06:00am EDT 

June 13 (Reuters) - Subsea 7 SA ::REG-SUBSEA 7 AWARDED CONTRACT OFFSHORE NORWAY.AWARD OF A SUBSTANTIAL CONTRACT BY EQUINOR FOR JOHAN SVERDRUP PHASE 2 PROJECT, LOCATED IN NORTH SEA, 160 KILOMETRES WEST FROM STAVANGER IN NORWAY.EPIC CONTRACT COMPRISES PROJECT MANAGEMENT, ENGINEERING, PROCUREMENT, CONSTRUCTION AND INSTALLATION OF APPROXIMATELY 100 KILOMETRES OF RIGID PIPELINES.MARINE OPERATIONS SCOPE INCLUDES INSTALLATION OF 23 KILOMETRES OF UMBILICALS, TIE-IN SPOOLS AND PRECOMMISSIONING..SUBSEA 7 DEFINES A SUBSTANTIAL CONTRACT AS BEING BETWEEN USD 150 MILLION AND USD 300 MILLION.OFFSHORE OPERATIONS WILL BE CARRIED OUT IN 2021.  Full Article

Subsea 7 SA Repurchases 240,000 Of Its Shares At Average Price Of NOK 107.66 Per Share
Thursday, 2 May 2019 11:29am EDT 

May 2 (Reuters) - Subsea 7 SA ::SUBSEA 7 SA - COMPANY REPURCHASED 240,000 OF ITS SHARES AT AN AVERAGE PRICE OF NOK 107.66 PER SHARE.  Full Article

Subsea 7 Says Repurchases 240,000 Of Its Shares An Average Price Of NOK 106.56 Per Share
Tuesday, 26 Mar 2019 02:41pm EDT 

March 26 (Reuters) - Subsea 7 SA ::SUBSEA 7 SHARE REPURCHASE.SUBSEA 7 SA - REPURCHASED 240,000 OF ITS SHARES AT AN AVERAGE PRICE OF NOK 106.56 PER SHARE.  Full Article

Subsea 7 Says Purchased 176,716 Of Its Shares At Nok 104.53 Per Share
Monday, 11 Mar 2019 02:46pm EDT 

March 11 (Reuters) - Subsea 7 SA ::SUBSEA 7 SHARE REPURCHASE.SUBSEA 7 SA - COMPANY PURCHASED 176,716 OF ITS SHARES AT AN AVERAGE PRICE OF NOK 104.53 PER SHARE.SUBSEA 7 SA - AS AT CLOSE OF BUSINESS ON 11 MARCH 2019 CO HELD 13,202,740 TREASURY SHARES REPRESENTING AOUBT 4.03% OF TOTAL NUMBER OF ISSUED SHARES.  Full Article

Subsea 7 wins contract from BP in Gulf of Mexico
Friday, 21 Dec 2018 02:00am EST 

Dec 21 (Reuters) - Subsea 7 SA ::SUBSEA 7 AWARDED CONTRACT OFFSHORE US GULF OF MEXICO.SUBSEA 7 S.A. TODAY ANNOUNCED AWARD OF A SIZEABLE SURF (SUBSEA UMBILICALS, RISERS AND FLOWLINES) CONTRACT BY BP <<>> FOR MANUEL PROJECT IN US GULF OF MEXICO..SUBSEA 7 DEFINES A SIZEABLE CONTRACT AS BEING BETWEEN USD 50 MILLION AND USD 150 MILLION.PROJECT EXECUTION WILL BE DELIVERED BY SUBSEA INTEGRATION ALLIANCE, A PARTNERSHIP BETWEEN SUBSEA 7 AND ONESUBSEA SCHLUMBERGER, TO PROVIDE BP WITH A FULLY INTEGRATED SOLUTION. .  Full Article

Subsea 7 repurchases 130,000 of its shares
Tuesday, 4 Dec 2018 12:15pm EST 

Dec 4 (Reuters) - Subsea 7 SA ::SUBSEA 7 SHARE REPURCHASE.COMPANY PURCHASED 130,000 OF ITS SHARES AT AN AVERAGE PRICE OF NOK 95.97 PER SHARE.  Full Article

Subsea 7 wins 3-years extension of North Sea frame agreement
Monday, 26 Nov 2018 01:59am EST 

Nov 26 (Reuters) - Subsea 7 SA ::SUBSEA 7 AWARDED FRAME AGREEMENT EXTENSION OFFSHORE UK.SUBSEA 7 WINS A SIZEABLE 3-YEAR EXTENSION OF AN EXISTING DSVI (DIVING SUPPORT VESSEL INITIATIVE) FRAME AGREEMENT, WITH SEVEN NORTH SEA CLIENTS: CHEVRON NORTH SEA LIMITED, DANA PETROLEUM (E&P) LIMITED, HESS DENMARK APS, NEXEN PETROLEUM U.K. LIMITED, REPSOL SINOPEC ENERGY UK LIMITED, SHELL UK LIMITED AND TAQA BRATANI LIMITED.SUBSEA 7 SA: UNDER FRAME AGREEMENT, SUBSEA 7 WILL CONTINUE TO PROVIDE DIVING SUPPORT VESSEL SERVICES ON A YEAR-ROUND BASIS, AS WELL AS ASSOCIATED PROJECT MANAGEMENT AND ENGINEERING SERVICES FOR UP TO 50 OFFSHORE FACILITIES IN NORTH SEA.SUBSEA 7 SA: SUBSEA 7 DEFINES A SIZEABLE CONTRACT AS BEING BETWEEN USD 50 MILLION AND USD 150 MILLION.  Full Article

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Norway's oil industry eyes 17% growth in 2019 investments

OSLO Oil and gas companies working in Norway have hiked their 2019 and 2020 investment forecasts as they add more field development plans, a survey by the country's statistics agency (SSB) showed on Tuesday.