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Subsea 7 — M&A Activity 2015
Jul 13, 2015
6244_iss_2015-07-13_baea5825-52d8-4c86-823e-c866fe3114e0.html
M&A Activity
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Subsea 7 announces global alliance with OneSubsea
Subsea 7 announces global alliance with OneSubsea
Luxembourg - 13 July, 2015 - Subsea 7 S.A. (Oslo
Børs: SUBC, ADR: SUBCY) announced today that it has
signed an agreement establishing a worldwide non-
incorporated alliance with Houston-based
OneSubsea®, a Cameron and Schlumberger company, to
jointly design, develop and deliver integrated
subsea development solutions through the
combination of subsurface expertise, subsea
production systems (SPS), subsea processing
systems, subsea umbilicals, risers and flowlines
systems (SURF) and life-of-field services.
The alliance will bring together Subsea 7's
experience and technology in seabed to surface
engineering, construction and life-of-field
services with OneSubsea's unique reservoir
expertise and state-of-the-art subsea production
and processing systems technologies. The alliance
will combine both companies' resources to
collaborate on selected projects, engaging early to
improve field development planning from the
reservoir to the production facility. By combining
the complementary capabilities and market-leading
technologies of OneSubsea and Subsea 7, the
alliance will work collaboratively with clients to
design, develop and deliver integrated SPS and SURF
solutions which will enhance project delivery,
improve the recovery, and optimise the cost and
efficiency of deepwater developments for the life
of the field.
Jean Cahuzac, Subsea 7 Chief Executive Officer,
said: "This combination of subsurface, SPS, SURF
and life-of-field expertise is unique in its
breadth of integrated service offering and provides
clients with the opportunity to significantly
improve subsea field economics over the lifetime of
the development. I am looking forward to developing
further our relationship with OneSubsea as we will
be able to capitalise on the synergies between our
strong technology portfolios and develop joint
technologies to improve our offering for our
clients.
Mike Garding, OneSubsea Chief Executive Officer,
said: "The technology and expertise from Subsea 7
perfectly complements OneSubsea's 'Pore to Process'
business strategy to offer a holistic approach to
subsea development solutions. Our established
competencies in subsurface modelling and production
systems engineering will be further strengthened by
integrating the SURF expertise provided by Subsea
7. By integrating these key areas of expertise, we
can reduce further risk and uncertainty to deliver
the optimal solution for our clients to produce
cost-effectively from subsea reservoirs."
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Subsea 7 S.A. is a leading global contractor in
seabed-to-surface engineering, construction and
services to the offshore energy industry. We
provide technical solutions to enable the delivery
of complex projects in all water depths and
challenging environments.
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Contact for investment community enquiries:
Isabel Green
Investor Relations Director
Subsea 7
Tel +44 (0)20 8210 5568
www.subsea7.com
Contact for media enquiries:
Carol Reed
Group Communications Director
Subsea 7
Tel. +44 (0)20 8210 5570
www.subsea7.com