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Subsea 7 ready to talk whenever McDermott's board is able to-CEO


Thursday, 26 Apr 2018 07:00am EDT 

April 26 (Reuters) - Subsea 7 SA told analysts and reporters on Thursday::SUBSEA 7: CEO SAYS "WE ARE MAKING A VERY GOOD PROGRESS ON THE JOINT VENTURE WITH SCHLUMBERGER".SUBSEA 7 CEO: "IF MCDERMOTT'S BOARD IS NOT ABLE TO ENGAGE IN DISCUSSIONS NOW, WE ARE READY TO HOLD THE DISCUSSION WHEN THE CIRCUMSTANCES CHANGE".SUBSEA 7 CEO: EXPECTS BETTER EBITDA MARGINS IN Q2 AND Q3 THAN IN Q1.SUBSEA 7 CEO: "CONFIDENT IN GRADUAL MARKET RECOVERY... WE SEE MORE TENDERS AND CONTRACTS AWARDED IN QUARTERS TO COME".SUBSEA 7 CEO: SAYS THE COMPANY WILL RETAIN CONTROL OF ITS VESSELS WHEN FORMING A JOINT VENTURE WITH SCHLUMBERGER.SUBSEA 7 CEO: SAYS STILL SEES PRICE PRESSURE ON SHORT AND MEDIUM-TERM JOBS, BUT THE COMPANY PRICES LONGER-TERM JOBS TAKING INTO ACCOUNT AN EXPECTED MARKET IMPROVEMENT.