Subsea 7

Last updated
Subsea 7 S.A.
Company type Société Anonyme
OSE: SUBC
Industry Engineering
Predecessor Acergy S.A.
Subsea 7, Inc
Founded2002
Headquarters Sutton, Greater London, United Kingdom [1]
Area served
Worldwide
Key people
 Kristian Siem (Chairman), John Evans (CEO)
Services Offshore engineering, construction, and project management for the energy industry
RevenueIncrease2.svg US $6.297 billion (2013) [2]
Decrease2.svg US $573.4 million (2013) [2]
Decrease2.svg US $439.9 million (2013) [2]
Total assets Increase2.svg US $10.357 billion (2013) [2]
Total equity Increase2.svg US $6.612 billion (2013) [2]
Number of employees
9,800 (2015)
Subsidiaries
Website www.subsea7.com

Subsea 7 S.A. (stylised as Subsea7) is a Luxembourgish multinational services company involved in subsea engineering and construction serving the offshore energy industry. [4] The company is registered in Luxembourg with its headquarters in London. [5] Subsea 7 delivers offshore projects and provides services for the energy industry.

Contents

Subsea7 makes offshore energy transition feasible through working on lower-carbon oil and gas and by providing services for the growth of renewables and other emerging energy industries.

History

The company was formed by the January 2011 merger of two predecessor companies, Acergy S.A. and Subsea 7, Inc. [6] [7]

Acergy was founded in 1970 as Stolt Nielsen Seaway, a division of the Norwegian Stolt-Nielsen Group offering divers for the exploration of the North Sea. After a series of acquisitions, including Comex Services of France in 1992 and Houston, Texas–based Ceanic Corporation in 1998, the company changed its name to Stolt Offshore in 2000. Five years later Stolt-Nielsen spun out the company as an independent business listed on the Oslo Stock Exchange and NASDAQ. The firm renamed as Acergy in March 2006.

Subsea 7, Inc. was the result of a series of mergers between DSND Offshore AS, Halliburton Subsea, Subsea Offshore and Rockwater over an extended period, with Rockwater and SubSea merging in 1999 to form Halliburton Subsea, and the resulting company operating as a 50/50 joint venture with DSND in 2002 with the name Subsea 7. [8] Halliburton exited the joint venture in November 2004. The company was listed on the Oslo Stock Exchange in August 2005 following its restructuring the same year. [8]

On 21 June 2010 the combination of Acergy S.A. and Subsea 7 Inc. was announced and was completed on 7 January 2011. The new entity took the Subsea 7 name while retaining Acergy's Luxembourg domicile and operational headquarters in London. [9] The chairman and chief executive roles were filled by Kristian Siem and Jean Cahuzac, who had previously held the same roles at Subsea 7 and Acergy respectively.

Presence

The principal executive office in Sutton, London SUTTON, Surrey, Greater London - Subsea 7 office building (3).jpg
The principal executive office in Sutton, London

The current headquarters for Subsea 7 is located at 40 Brighton Road, Sutton, London. [1]

Subsea 7 global offices
AfricaAmericasAsia/OceaniaEurope
Flag of Angola.svg  Angola Flag of Brazil.svg  Brazil Flag of Australia (converted).svg  Australia Flag of France.svg  France
Flag of Egypt.svg  Egypt Flag of Mexico.svg  Mexico Flag of Indonesia.svg  Indonesia Flag of Luxembourg.svg  Luxembourg
Flag of Ghana.svg  Ghana Flag of the United States.svg  United States Flag of Malaysia.svg  Malaysia Flag of Norway.svg  Norway
Flag of Mozambique.svg  Mozambique Flag of Canada (Pantone).svg  Canada Flag of Russia.svg  Russia Flag of Portugal.svg  Portugal
Flag of Nigeria.svg  Nigeria Flag of Saudi Arabia.svg  Saudi Arabia Flag of the United Kingdom.svg  United Kingdom
Flag of Singapore.svg  Singapore
Flag of the United Arab Emirates.svg  United Arab Emirates
Flag of Turkey.svg  Turkey
Flag of Azerbaijan.svg  Azerbaijan

See also

References

  1. 1 2 "Subsea 7 Website". Subsea 7. Retrieved 13 April 2017.
  2. 1 2 3 4 5 "Annual Report 2013" (PDF). Subsea 7. Retrieved 7 September 2013.
  3. 1 2 3 "Subsea7 Group". subsea7 Corporate2018. Retrieved 2024-11-16.
  4. ↑ Subsea 7 Career & Training
  5. ↑ Website, Subsea7. "About Us". subsea7 Corporate2018. Retrieved 13 April 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)
  6. ↑ "Acergy and Subsea 7 Agree to Combine" (PDF). Subsea 7 : 5.
  7. ↑ "Anticipated acquisition by Acergy SA of Subsea 7 Inc" (PDF). Office of Fair Trading : 29 – via Government of United Kingdom.
  8. 1 2 "Company evolution". Subsea 7 website. Retrieved 2009-05-13.
  9. ↑ Bhatia, Meera; Stigset, Marianne (21 June 2010). "Acergy Agrees to Acquire Subsea 7 for $2.5 Billion". Bloomberg Businessweek . Bloomberg. Archived from the original on July 10, 2010. Retrieved 7 July 2010.
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