Subsea 7

Subsea 7 S.A.
Société Anonyme (OSE: SUBC)
Traded as OSE: SUBC
Industry Petroleum
Predecessor Acergy S.A.
Subsea 7, Inc
Founded 2002
Headquarters Hammersmith, London, United Kingdom
Area served
 Worldwide
Key people
 Kristian Siem (Chairman), Jean Cahuzac (CEO)
Products Offshore engineering, construction, and project management for the energy industry
Revenue Increase US $6.297 billion (2013)[1]
Decrease US $573.4 million (2013)[1]
Profit Decrease US $439.9 million (2013)[1]
Total assets Increase US $10.357 billion (2013)[1]
Total equity Increase US $6.612 billion (2013)[1]
Number of employees
 9,800 (2015)
Subsidiaries Seaway Heavy lifting (SHL), SapuraAcergy, Sonamet, Global Oceon Engineers Nigeria Limited (Oceon), NigerStar 7
Website www.subsea7.com

Subsea 7 S.A. is a subsea engineering, construction and services company serving the offshore energy industry.[2] The company is registered in Luxembourg with its headquarters in London in the United Kingdom.

History

The company was formed by the January 2011 combination of its two predecessor companies, Acergy S.A. and Subsea 7, Inc.

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.[3] Halliburton exited the joint venture in November 2014. The company was listed on the Oslo Stock Exchange in August 2005 following its restructuring the same year.[3]

On June 21, 2010 the combination of Acergy S.A. and Subsea 7 Inc. was announced and was completed on January 7, 2011. The new entity took the Subsea 7 name while retaining Acergy's Luxembourg domicile and operational headquarters in London.[4] 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.

Offices

The current world headquarters for Subsea 7 are located at 200 Hammersmith Road, London.

References

  1. 1 2 3 4 5 "Annual Report 2013" (PDF). Subsea 7. Retrieved 7 September 2013.
  2. ↑ Subsea 7 Career & Training
  3. 1 2 "Company evolution". Subsea 7 website. Retrieved 2009-05-13.
  4. ↑ Bhatia, Meera; Stigset, Marianne (21 June 2010). "Acergy Agrees to Acquire Subsea 7 for $2.5 Billion". Bloomberg Businessweek. Bloomberg. Retrieved 7 July 2010.
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