Luxembourg – 03 June 2020 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced today the award of a major⁽¹⁾ contract by SSE Renewables for the engineering, procurement, construction and installation (EPCI) of the foundations and inter array cables for the Seagreen Offshore Wind Farm project, 27km offshore Scotland. The Seagreen development will be a 1,075MW offshore wind farm, comprising 114 wind turbines located off the east coast of Scotland.

Seaway 7, the Renewables business unit of Subsea 7, will manage the EPCI of the 114 wind turbine generator foundations and approximately 300km of associated inter array cables. The agreement will immediately secure 30 jobs within Seaway 7’s Aberdeen office where the EPCI contract will be managed, with this number expected to reach around 50 jobs at the peak of activity.

John Hill, Seagreen Project Director, said: “Seaway 7 brings a wealth of offshore wind knowledge and expertise and we are pleased to welcome them and their Aberdeen team to Seagreen.”

Steph McNeill, Executive Vice President – Renewables at Seaway 7, said: “We are looking forward to continuing our successful collaborative relationship with SSE Renewables as we help construct Seagreen. We have been active in the UK Renewables sector for over a decade and are very pleased to continue to support the ongoing energy transition in the UK.  The Seagreen project will be managed from our Seaway 7 office in Aberdeen, bringing our offshore wind expertise to the largest offshore wind project in Scotland.”

(1)   Subsea 7 defines a major contract as being over USD 750 million.

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Subsea 7’s Renewables business unit is an experienced partner for the delivery of offshore wind farm projects and specialist heavy lifting and cable installation services, operating under the Seaway 7 brand.

Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

Subsea 7 is listed on the Oslo Bors (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

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Contact for investment community enquiries:
Katherine Tonks
Investor Relations Director
Tel +44 (0)20 8210 5568
katherine.tonks@subsea7.com
www.subsea7.com

Contact for media enquiries:
Tracey Miller
Group Communication Manager
www.subsea7.com

Forward-Looking Statements: Certain statements made in this announcement may include ‘forward-looking statements’. These statements may be identified by the use of words like ‘anticipate’, ‘believe’, ‘could’, ‘estimate’, ‘expect’, ‘forecast’, ‘intend’, ‘may’, ‘might’, ‘plan’, ‘predict’, ‘project’, ‘scheduled’, ‘seek’, ‘should’, ‘will’, and similar expressions. The forward-looking statements reflect our current views and are subject to risks, uncertainties and assumptions. The principal risks and uncertainties which could impact the Group and the factors which could affect the actual results are described but not limited to those in the ‘Risk Management’ section in the Group’s Annual Report and Consolidated Financial Statements 2017. These factors, and others which are discussed in our public announcements, are among those that may cause actual and future results and trends to differ materially from our forward-looking statements: actions by regulatory authorities or other third parties; our ability to recover costs on significant projects; the general economic conditions and competition in the markets and businesses in which we operate; our relationship with significant clients; the outcome of legal and administrative proceedings or governmental enquiries; uncertainties inherent in operating internationally; the timely delivery of vessels on order; the impact of laws and regulations; and operating hazards, including spills and environmental damage. Many of these factors are beyond our ability to control or predict. Other unknown or unpredictable factors could also have material adverse effects on our future results. Given these factors, you should not place undue reliance on the forward-looking statements.