Subsea7

Vallourec was awarded a major contract by Subsea7 to supply about 130 km of carbon steel line pipe, over 15,000 tons, plus thermal insulation coating for Petrobras' Sepia 2 pre-salt project in the Santos Basin offshore Brazil.

Saipem and Subsea7 signed a binding merger agreement to combine into Saipem7, a global energy services company with about EUR 21 billion revenue and EUR 43 billion combined backlog. Completion is expected in the second half of 2026.

Subsea7 was awarded a sizeable contract (USD 50-150 million) in the US Gulf of Mexico covering engineering, procurement, construction and installation of a water injection flowline and subsea infrastructure, with offshore work expected in 2026.

SLB OneSubsea, a joint venture of SLB, Aker Solutions and Subsea7, secured a Petrobras contract for subsea production systems for two ultra-deepwater fields offshore Brazil, with FPSOs expected to start producing from 2029.

SLB's OneSubsea business and Subsea Integration Alliance won a large EPCI contract from bp for the Cypre gas project offshore Trinidad and Tobago, with offshore installation scheduled to start in 2024.

A/S Norske Shell awarded OneSubsea, a Schlumberger division, a frame agreement for an EPCI contract to supply a subsea multiphase compression system for the Ormen Lange field in the Norwegian Sea.