Subsea7 has secured a contract worth between $150 million and $300 million with an undisclosed client, with offshore operations to kick start in 2027.
Under the contract defined as substantial, Subsea7’s scope includes the engineering and offshore installation of flexible pipe, umbilicals, subsea equipment and a mooring system.
Project management and engineering activities will begin immediately at the company’s office in Houston, Texas.
Subsea7 did not reveal any additional details about the project or client.
Of note, it was reported earlier today that Subsea7 had signed a binding agreement with Italy’s engineering, drilling, and construction services giant Saipem on the terms and conditions for their proposed merger.
The new company will be created through an EU cross-border statutory merger, carried out by absorbing Subsea7 into Saipem, with the latter to be renamed Saipem7.